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Bitcoin holder loses 80 BTC to drainer after buying Ledger from reseller

A Bitcoin holder lost 80 BTC worth nearly $6.6 million after transferring the funds to a Ledger hardware wallet acquired from a reseller, on-chain tracking data reveals.

Screenshot of blockchain transaction logs showing a transfer of 80 BTC valued at $6.59 million to an address labeled Ledger Drainer.
Image: @Cointelegraph

An investor has lost an entire balance of 80 BTC after moving the assets onto a Ledger hardware wallet purchased from a reseller named CryptoBillis, according to on-chain tracking account Lookonchain. Transaction records indicate that the entire sum was transferred to a destination labeled "Ledger Drainer" roughly nine hours before the alert.[1][2]

Lookonchain noted that the owner had acquired the 80 BTC four months earlier for approximately $5.2 million, paying an average price of around $65,000 per coin, and held roughly $1.38 million in unrealized profit prior to the incident. On-chain transaction logs shared by Lookonchain and Cointelegraph show that 80 BTC worth $6.72 million was deposited into the victim's address one week before the theft, before the full 80 BTC—valued at $6.59 million at the time of the drain—was routed into the drainer address.[1][2]

Reporting on the theft, Crypto Briefing emphasized that the episode underscores the critical importance of purchasing hardware wallets directly from official sources to safeguard digital assets.[3]

Key facts

  • Lookonchain reported that an investor lost 80 BTC after depositing the funds into a Ledger wallet purchased from reseller CryptoBillis.
  • On-chain data indicates 80 BTC valued at $6.59 million was moved to an address labeled "Ledger Drainer."
  • The victim's wallet received the 80 BTC, then valued at $6.72 million, one week prior to the drain.
  • The holder originally purchased the 80 BTC four months earlier for about $5.2 million at roughly $65,000 per coin, holding an unrealized gain of $1.38 million before the loss.
  • Crypto Briefing reported that the loss underscores the necessity of obtaining hardware wallets directly from official sources.

Sources · 3 sources

  1. LO

    Lookonchain@lookonchainPost on X ·

    Poor guy! 4 months ago, he bought 80 $BTC ($5.2M) at a low price of ~$65,000 and was sitting on a $1.38M profit. But a week ago, he bought a Ledger device from reseller CryptoBillis and deposited all 80 $BTC into it. Now he's lost everything. https://t.co/b9FeSLqCdy https://t.co/7JYmCkkbq2

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X ·

    🚨 ALERT: A Bitcoin holder reportedly lost all 80 $BTC bought for $5.2 million after transferring them to a Ledger wallet purchased from reseller CryptoBillis, Lookonchain reports. https://t.co/Day44K4BuR

    Open source
  3. CB

    Crypto BriefingArticle ·

    Bitcoin holder loses 80 BTC worth $5.2 million after moving funds to reseller-bought Ledger The incident underscores the critical importance of purchasing hardware wallets from official sources to ensure asset security. The post Bitcoin holder loses 80 BTC worth $5.2 million after moving funds to reseller-bought Ledger appeared first on Crypto Briefing .

    Open source