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Ledger confirmed that affected user devices have unauthorized hardware implants, and the dealer CryptoBilis has suspended inventory sales

Ledger Support released an update stating that it has confirmed the presence of unauthorized hardware implants in the device of one affected user. They are currently contacting the affected user and continuing to investigate the matter. Ledger is calling on anyone with information to provide leads and has stated that it is cooperating with relevant law enforcement agencies to hold those involved accountable. As a precaution, CryptoBilis has confirmed the suspension of sales of all hardware wallet inventory until the investigation is complete, and Ledger is actively communicating with them regarding follow-up measures.Ledger stated that there are currently no signs that its security infrastructure, systems, or services have been compromised. For users who purchased Ledger devices from this dealer, if the initialization setup has not yet been completed, it is advised not to start the setup; if the setup has been completed, they should consider transferring assets to a new Ledger signing device using new recovery phrases.Ledger emphasizes that security threats are constantly evolving, and the company is continuously improving security measures and advancing more sophisticated tamper-proof solutions. It also reminds users to be vigilant against scams that take advantage of this situation and to obtain the latest information only through official Ledger channels. Ledger will not ask users for their 24-word recovery phrase.

Hardware wallet distributor CryptoBilis announced the suspension of Ledger device sales to cooperate with the investigation into financial losses

Hardware wallet dealer CryptoBilis announced that, due to Ledger investigating a case involving fund losses for Southeast Asian users, the company has suspended all sales and shipments of Ledger devices and is cooperating with Ledger's investigation. Ledger previously stated that it is investigating reports of fund losses from Southeast Asian users who purchased products from this dealer, and as a precaution, has requested CryptoBilis to suspend the sales and shipments of related devices, advising users who purchased devices in the past 90 days not to set them up if they have not completed initialization.CryptoBilis reminds users who have completed setup to follow Ledger's advice and transfer their assets to a new Ledger signing device generated with a new mnemonic phrase. It emphasizes that the mnemonic phrase must be generated by the device during initialization and handwritten by the user; if the device comes with a pre-printed or written mnemonic card or paper, or if the mnemonic has been seen by others, the wallet should be considered unsafe, and users should not disclose their mnemonic phrase or PIN to anyone. The notice also warns to be cautious of third parties claiming to assist in recovering lost funds, as such proposals are often scams.For users who have already experienced fund losses, CryptoBilis recommends contacting their official customer service channels and providing the order number, purchase time and location, device serial number, affected wallet address, and transaction ID, while keeping the device and packaging, not resetting or discarding them, and suggests reporting to the police. The company stated that it will not send users links requesting them to connect wallets, input mnemonic phrases, or install software.

first_img Senator Daines introduced the ADAPT Act, which exempts stablecoin payments from capital gains tax and introduces wash sale rules

U.S. Senator Steve Daines (Republican from Montana, member of the Senate Finance Committee) has officially introduced a 56-page digital asset tax bill, named the "Aligning Digital Assets with Tax Principles Act" (ADAPT Act). The bill aims to establish clearer tax rules for scenarios such as stablecoin payments, network fees, staking, and lending, and plans to extend existing tax rules like wash sales and constructive sales to apply to digital assets.The core provisions of the bill state that taxpayers generally do not need to recognize gains or losses when using compliant U.S. dollar stablecoins to purchase goods and services, while exempting brokers from information reporting obligations for qualifying consumer transactions; however, this exemption does not apply to traders and market makers. The bill also extends wash sale rules and constructive sale rules to digital assets, with compliant stablecoins excluded from the constructive sale provisions to limit loss harvesting behavior in crypto assets.Additionally, the bill proposes to exempt digital assets used to pay for network, transaction, or gas fees of $10 or less from gain or loss recognition and allows qualifying digital asset traders and dealers to choose to account for them at fair market value. The bill also stipulates rules for income sources from staking and mining, a non-recognition framework for digital asset lending, a safe harbor for foreign investors' transactions, and definitions for digital asset classifications; most provisions will apply to tax years or transactions after December 31, 2026. Previously, the U.S. House Ways and Means Committee passed its own "Digital Asset Tax Certainty Act" on September 16 by a vote of 38 to 5.

first_img Cross-chain aggregator Jumper will launch the JUMP token sale and independently split at Legion

Cross-chain aggregator Jumper announced plans to conduct its first JUMP token sale through Legion, while independently splitting from its incubator LI.FI to become a standalone company. Jumper claims its lifetime trading volume exceeds $40 billion, with over 100,000 monthly active users, ranking first in cross-chain bridging transaction volume, holding a market share of over 15%. The company is expanding its coverage to include exchanges, cross-chain, perpetual contracts, tokenized stocks, and other real-world assets, as well as yield opportunities.Jumper CEO Marko Jurina stated: Cross-chain bridging is the starting point for Jumper, and hopes Jumper will be the application users open when trading, investing, or transferring value on-chain. Jumper Perps (aggregated perpetual contract venue) is set to launch in the coming weeks. LI.FI will focus on orchestrating infrastructure, while Jumper will concentrate on consumer-facing applications.This Legion sale will be Jumper's first financing, with proceeds aimed at accelerating product development, user acquisition, and distribution. The JUMP token is planned to launch separately after the financing. The company stated it will not conduct separate equity financing rounds, with JUMP intended to be the sole ownership and exposure asset for users, contributors, and investors. Jurina remarked: The token should be the only way to own the value created by Jumper, and token priority ownership should become the industry standard.
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