A good reason why we shouldn't buy wallet from third-parties

[Lontor]

Here is another good reason why people should avoid buying hardware wallet from third party sellers, if you aren't not buying from the company direct you are sleeping with fire on your roof top.



https://x.com/Ledger_Support/status/2108551100613714002

First it was ColdCard, we got through that already, and now it's Ledger, Cryptobilis or whatever it's called needs to be arrested, it's possible that this seller tampered with every Ledger purchased from him or them.

Allegedly though.

[BitMaxz]

3rd party?
Well, the company itself hire distributors and resellers for marketing purposes, meaning they are also ones who take the risk just to promote their products.

Even if you buy them directly from the company, you are still using a 3rd party wallet, which is created by them.
Meaning having a wallet from them, even directly from the company you trust, and all of your funds to them.

[Queentoshi]

3rd party?
Well, the company itself hire distributors and resellers for marketing purposes,

I agree, it is difficult to boycott distributors and resellers completely because the company actually approves some of these vendors for sales. You could buy from an approved vendor and still have an issue, and others buy from vendors that are not even approved and not have an issue. You can never really know at times, so I say the thing is trying to help yourself by doing research on any vendor you want to purchase a wallet from if you cannot buy directly from the company, check reviews about them from any possible source before making any purchase.

[Ambatman]

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Reports about wallet-draining by Ledger users. Total losses $86M+
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[Doan9269]

Here is another good reason why people should avoid buying hardware wallet from third party sellers, if you aren't not buying from the company direct you are sleeping with fire on your roof top.

Anything can happen indeed at the cause of the delivery when you order for a product from a third party retailer, but it is so unfortunate that some of this organizations that produces hard wallet also engage the use of this same actors, but as for me, I wouldn't admit buying from them, instead I will prefer to directly buy from the company and they make the shipping order for me, moreover, we should also know the kind of hardware wallet we are going for because ledger is not a recommended hardware wallet to consider any longer.

[Oshosondy]

First it was ColdCard, we got through that already, and now it's Ledger, Cryptobilis or whatever it's called needs to be arrested, it's possible that this seller tampered with every Ledger purchased from him or them.

I do not think you should use third party for Cryptobilis because it is not just a third party, it is one of the Ledger Nano official resellers. That is the right words that you should use so that people can know how bad a hardware wallet can be while having huge amount of coins on the address the hardware generated.

[Z_MBFM]

3rd party?
Well, the company itself hire distributors and resellers for marketing purposes, meaning they are also ones who take the risk just to promote their products.

Yes it is true if they do not hire any reseller and if they do not let anyone else to resell their products then how can someone sell their wallets. And they have full information of those guys that is why they have specifically posted. Since they themselves have sold their products through third party resellers so if any kind of damage is done to the users through this then Ledger company will have to take the responsibility. Why would they sell their products through such resellers who can be risky for the customers.

[AVE5]

First it was ColdCard, we got through that already, and now it's Ledger, Cryptobilis or whatever it's called needs to be arrested, it's possible that this seller tampered with every Ledger purchased from him or them.

Allegedly though.

Okay I like the fact you specified allegedly otherwise, it should be questioned that on what particular account should the ledger hardware retailer should be arrested.
How are you sure if Cryptobilis is not the only distributor of the brand because from the look of things, anyone can actually buy as many number of the ledger wallet devices as many as they can afford and resell them. Except the ledger company has to prove to us that there's no other dealers like that of Cryptobilis who buys and resells.
In fact to begin with, why would they company permit a third part distributor when they knows the risks involved for the user's?
They should had prevented that to keep user's privacies secured. At least if not for any reason but to try as much to maintain the ledger company's reputations.
I'm sure by now there had become panicks amongst their brand user's at the cause of this news.

[Fivestar4everMVP]

I came across this news on X today, just a couple of hours ago actually.
A bitcoin holder who is said to have bought 80 bitcoins lost all the bitcoin after transferring them to the ledger device he bought from the reseller named Cryptobill, it's a very unfortunate incident..


This is not a small loss, over $6 million dollars, I don't know what every one else thinks but I personally think that he who sold the ledger device (cryptobill) should be held responsible and properly invested.

[Fiatless]

In fact to begin with, why would they company permit a third part distributor when they knows the risks involved for the user's?
They should had prevented that to keep user's privacies secured. At least if not for any reason but to try as much to maintain the ledger company's reputations.
I'm sure by now there had become panicks amongst their brand user's at the cause of this news.

It is not out of place for a company to give a trusted third party permission to distribute a product in an area they don't have access to. I think Cryptobilis has been offering such services for a long time in Southeast Asia. The story is developing, but there is an account that Cryptobilis changed ownership of early this year. I think users should be informed when there is a change in ownership of a company. Those who bought Ledger devices directly from the manufacturer might not be affected.

[bitcoin-shark]

The answer is very simple: even with highly secure hardware wallets like Ledger or Trezor, if they are purchased from third-party resellers, there is a real risk that someone in the supply chain could note down the wallet's passphrase and compromise its security.

[Obari]

The world is becoming very difficult to trust other people and the heart of men are becoming increasingly selfish by the day and I don't know if it's because of the night rate if recession I the country else I see no reason why people should be so selfish and ready to prey on absolutely anyone who falls victim to them and now, we don't even know who to address as a scammer or who to even be scared of.

I just hope all of these incidence are serving as eye openers to us who have not be directly or indirectly affected so we can be able to take safety and precautionary measures and try to always buy these  things from direct dealers rather than third parties

[macson]

But the problem is that the reseller isn't just any reseller, they are an official authorized reseller for Ledger in Malaysia and Indonesia. People should be able to get more trustworthy and quality products since they are authorized sellers of Ledger. But unfortunately, people ended up losing their assets because of this product. Ledger and Cryptobilis should take responsibility for this mess.

[Donk1]

Well i think people still don't understand what security is about, and if you think about it, it's actually crazy because many people out there still don't find it risky at all. Best to say buying a hardware wallet from an unofficial seller is wrong, even if the person says stuff like it's the one I am not using anymore. Friends or not the individual might give you the keys to the hardware, but you buying it have no idea if there is a duplicate copy of it or peradventure, the hardware is even corrupt.....
​As a crypto enthusiast, whatever you are buying that has to do with anything concerning your crypto both your smartphones or PC/laptop always go for a new one just to be safe, because anything that is fairly used might have issues or perhaps even be hacked or the security might even be compromised already. You can't knowfor certain but you can be cautious ,so we should take note of what we need and what we want, because it's just a tiny difference between what is new and what isn't, and choosing the used one or the one that isn't official means you are putting your crypto at risk. That's all.....

[Alphakilo]

But the problem is that the reseller isn't just any reseller, they are an official authorized reseller for Ledger in Malaysia and Indonesia. People should be able to get more trustworthy and quality products since they are authorized sellers of Ledger. But unfortunately, people ended up losing their assets because of this product. Ledger and Cryptobilis should take responsibility for this mess.

I support the motion because even though most customers can't buy products directly from the manufacturers, there are licenced distributors that have the responsibility of representing the manufacturer in any region where such products can be bought and in this case, CryptoBilis is the party responsible and should bear the penalty for the losses that was incurred after the hack because whether they tempered with the product or not remains to be seen unless a proper investigation is carried out.
I would advice using an air-gapped wallet since using cold wallets these days have started coming up with certain compromises that expose the hardware to hacks.

[Miles2006]

Being careful is not the only thing that can save us from getting scammed, purchasing a wallet from the official authorized reseller is also not safe according to the report.
Generally, companies do have resellers to market their product across the globe, no organization can handle every process alone without needing help, the fault is coming from CryptoBilis though they’re also unaware of the possibilities. A third party purchase is not that bad definitely the reseller had another aim otherwise people do purchase from a trusted third party viewing this pattern has been for long, from now on people will be more careful due to the high rate of scam practice.

[famososMuertos]

You can lock this thread
There's already a thread about this.
Reports about wallet-draining by Ledger users. Total losses $86M+
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Thanks for the warning and for pointing out the duplicate topic; I hope users realize this, stop replying here, and continue the discussion in the other thread.

[Popkon6]

https://x.com/Ledger_Support/status/2108551100613714002

First it was ColdCard, we got through that already, and now it's Ledger, Cryptobilis or whatever it's called needs to be arrested, it's possible that this seller tampered with every Ledger purchased from him or them.

Allegedly though.

Look, if you buy directly from the company, then you will have your reasons there, and even if you buy hardware wallets from official resellers, there will still be some risk. But you should use more than one, in this case you can buy from the company people who are resellers, but you can buy this wallet from people outside, i.e. outside the company area, it is very risky. They should be avoided, where you can walk with confidence, it will be best if you buy hardware wallets directly from the company people.

[Franklyn-wood]

[quote autor=Alphakilo link=topic=5596385.msg67224712#msg67224712 date=1791578966]

But the problem is that the reseller isn't just any reseller, they are an official authorized reseller for Ledger in Malaysia and Indonesia. People should be able to get more trustworthy and quality products since they are authorized sellers of Ledger. But unfortunately, people ended up losing their assets because of this product. Ledger and Cryptobilis should take responsibility for this mess.

I support the motion because even though most customers can't buy products directly from the manufacturers, there are licenced distributors that have the responsibility of representing the manufacturer in any region where such products can be bought and in this case, CryptoBilis is the party responsible and should bear the penalty for the losses that was incurred after the hack because whether they tempered with the product or not remains to be seen unless a proper investigation is carried out.
I would advice using an air-gapped wallet since using cold wallets these days have started coming up with certain compromises that expose the hardware to hacks.
[/quote]
To be a third party of an organization doesn't mean that the person is faithful or trust worthy to represent the company well.
We can't predict the fact that anything can happen in the process of the transaction which has resulted to the loss encured by the the customer. CryptoBilis also should have insurance that should cover such occurrence like this reducing it expences at a time like this, this is really painful experience. The choice of wallet used is much important to avoid unnecessary loses.

[FinneysTrueVision]

It is not out of place for a company to give a trusted third party permission to distribute a product in an area they don't have access to. I think Cryptobilis has been offering such services for a long time in Southeast Asia. The story is developing, but there is an account that Cryptobilis changed ownership of early this year. I think users should be informed when there is a change in ownership of a company. Those who bought Ledger devices directly from the manufacturer might not be affected.

The issue is that there was no disclosure by the previous owner because they signed an NDA. That should have been a red flag that the new owner was up to something. The money they were offered to sell the company might have made them think it was worth compromising their integrity, but now they will probably face several lawsuits.

It would be worth knowing if Ledger and the other hardware wallet manufacturers were aware of the ownership change. They really should have been monitoring their authorized vendors more closely. You can’t just allow a company to keep selling your devices when somebody new takes over without vetting them first.