An alleged scammer is among the main victims of recent thefts affecting Ledger wallets. Chainalysis revealed on October 15 that an operator suspected of having organized a fake paid mission fraud lost more than 60 bitcoins, or approximately $4.8 million. The funds were distributed between three addresses before being stolen on October 9. The case takes an unexpected turn: the stolen bitcoins themselves come from a scam.
In brief
- Alleged scammer loses more than 60 bitcoins, valued at $4.8 million.
- The funds came from a fake paid mission scam, according to Chainalysis.
- Three Bitcoin addresses were emptied on October 9 in favor of the same wallet.
Alleged scammer loses 60 bitcoins in Ledger case
Chainalysis has just identified an unexpected victim of the thefts that occurred on October 9. The blockchain analysis company claims that a suspected scam operator lost more than 60 BTC in this attack. The case comes as Ledger confirmed the presence of a spy device in certain wallets, particularly among devices distributed in Southeast Asia.
The bitcoin movements traced by Chainalysis date back to September 22. That day, the suspected scam operator allegedly transferred his funds to three separate Bitcoin addresses, associated with Ledger wallets.
The device was probably intended to keep assets away from exchange platforms. The funds remained in these addresses for just over two weeks.
On October 9, the funds disappear. Three transactions are enough to empty the three addresses and transfer the bitcoins to the same wallet, already linked to other thefts. In total, more than 60 BTC changed hands, with an estimated value of $4.8 million according to Chainalysis.
The identity of the operator has not been made public. There is also no information available to confirm that he has been the subject of legal proceedings. The analysis company nevertheless believes that the bitcoins held at these addresses came from fraudulent activity.
Bitcoins came from fake jobs scam
The origin of the funds makes this case special. Chainalysis links bitcoins to a scam called task scamor paid task scam. The principle consists of offering simple missions to Internet users. In particular, participants must publish false reviews on products or simulate purchases to artificially improve their commercial reputation.
Initially, the promised remuneration seems accessible. Victims may even receive some small payments to convince them to sue. Then the operation changes. The platform suddenly displays a negative balance. To collect their winnings or complete their missions, participants must deposit their own money.
Some make several payments hoping to unlock their remuneration. The promised winnings are never paid. This mechanism is well documented by the American Federal Trade Commission. In an alert published in August 2025, the authority explained that fraudsters often request crypto deposits to unlock fictitious commissions.
The operator identified by Chainalysis would have used this type of device to accumulate funds then converted or kept in bitcoins. The 60 BTC therefore do not necessarily correspond to one’s own savings. They would represent part of the proceeds of the scam. Their theft by another criminal group does not mean that the people initially defrauded have gotten their money back. No refunds have been confirmed.
Ledger faces the consequences of the attack
The theft of the 60 bitcoins is part of a much broader affair. Since October 9, several Ledger wallet users have reported the disappearance of their assets. Investigations revealed that some devices had been physically modified before delivery.
Hidden electronics allowed recovery phrases to be retrieved from users during setup. The information could then be transmitted remotely using a mobile connection.
The manufacturer claims that its servers, operating system and secure chips have not been compromised. The attack concerned the distribution of certain genuine devices, modified after leaving the circuits controlled by Ledger. Faced with these findings, Trezor also announced a tightening of its reseller network, with changes planned from January 2027.
For its part, Ledger has asked its distributors to strengthen controls on their stocks and no longer resale returned devices.
The company is also cooperating with authorities to track stolen funds. Total losses remain difficult to establish. Several independent estimates suggest tens of millions of dollars, some exceeding 90 million. Ledger, however, has not validated a final amount.
As early as October 10, Changpeng Zhao warned about the risks linked to the physical manipulation of Ledger wallets. The identification of the alleged scam operator now provides additional information on the victims. The Bitcoin blockchain allows you to track transfers made between addresses. However, it is not sufficient, on its own, to establish the identity of the people involved or to return the funds. For the initial victims of the paid task scam, the $4.8 million therefore remains out of reach.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
