Trezor, a major crypto hardware wallet maker, is cutting the number of shops allowed to sell its devices.
The decision comes after a third-party retailer of Ledger wallets reportedly contained spyware to steal users’ crypto.
Ledger Security Incident Shakes the Crypto Wallet Industry
Rival wallet maker Ledger confirmed that a device sold through CryptoBilis, a Southeast Asian reseller, carried a hidden implant.
According to Ledger’s security team, the implant reads the 24-word recovery phrase off the screen during setup. That phrase is the master key to a wallet. The chip then sends it out over a cellular connection, per the company’s latest implant update.
On-chain researchers at Bitquery estimate suspected losses above $93 million. Ledger has not confirmed a total.
Ledger ties every confirmed case to CryptoBilis. Meanwhile, users claim tampered devices reached Europe, which Ledger has not confirmed.
Are Trezor Wallet Devices Safe?
Trezor did not name Ledger. Instead, its letter to dropped partners cited a recent supply-chain attack on “another hardware wallet brand.” The company was firm about its own products.
“Let us be very clear: there is not a single piece of evidence that Trezor devices have been compromised,” the team stated.
Chief Commercial Officer Danny Sanders wrote that affected resellers lose their authorization on January 1, 2027. Trezor has stopped shipping them new stock.
Still, they can sell what they hold through Black Friday and the holidays.
Trezor has not said how many resellers it dropped or where. Sanders said each country was judged on revenue, distribution, and Trezor’s own reach there.
Partners who stay face an updated legal framework. They also face closer checks on how devices are sourced, stored, and handled.
Ledger has called for shared anti-tamper standards across all wallet makers. Trezor, for now, is tightening its own sales chain first.
