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CryptoBills, the company that was the Ledger verified reseller connected to the recent hack, was purchased by a Chinese company earlier this year. There's definitely a story here: #1592012

edit: if the Chinese company is the source of the man in the middle attacks, this is pretty crazy. It turns out that the lowest hanging fruit was just buying the "trusted" brand (in this case CryptoBills) and requiring them to sign NDAs about the sale.

I'm not sure if I believe this tale

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126 sats \ 1 reply \ @Scoresby 9 Oct

I agree, I am skeptical. While the former owner's X account is very thin, but he has a LinkedIn account and has posted the following note there:

https://www.linkedin.com/feed/update/urn:li:activity:7514372792084152320/

I checked out some of the companies in his work experience, the Access Blockchain Association Malaysia did list him as president from 2023 - 2025 (according to the wayback machine) and they list his affiliation as CryptoBills.

There are many parts of the story that I'm not quite sure about, but I think it is at least true that he was president of CryptoBills and now claims that he was unable to speak about the sale until mid-October, but that "All suppliers were previously notified of the corporate acquisition and new management structure."

There's some guy on X claiming that the CryptoBills was transferred to a Chinese national two months ago, but I'm not sure about that.

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I've done leadership transitions - ingoing and out. This sounds odd to me. But like the adage goes: don't attribute to malice what can be attributed to incompetence.

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