Today’s crypto headlines were dominated by a growing wallet distribution security concern, a major mining pool shutdown, and a notable move by Russia’s largest bank into regulated crypto services. Each story underscores shifting priorities across custodial safety, mining infrastructure and bank-led access to digital assets.
Wallet reseller security incident expands
Ledger’s security team Donjon reported discovering a component in devices sold by reseller CryptoBilis that can read the hardware wallet screen, decode the recovery phrase and transmit it over a mobile network. In response, Ledger has asked resellers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales. MediaMarktSaturn has stopped selling Ledger products in stores and online after a customer report in Germany. Ledger said confirmed cases are limited to Southeast Asia.
The incident has prompted broader concern around the device distribution chain. Ledger’s finding focuses on compromised units supplied through a specific reseller, rather than a firmware flaw in Ledger’s own devices, according to the company’s communications. The episode highlights the risks that can arise when hardware wallets pass through third-party vendors.
Trezor has also acted on reseller oversight. The hardware wallet maker announced it will terminate authorization for certain resellers effective January 1, 2027. Trezor stated there is no indication its own devices have been affected by the Ledger-related issue.
Binance Pool to shut down in November
Binance said it will terminate its mining pool on November 10, along with ancillary offerings including Pool Savings, Cloud Mining and the Transaction Accelerator, and is asking miners to migrate their hashrate to other pools. Binance Pool was launched in April 2020 and ranked ninth by size, registering approximately 26 exahashes per second (about 2.3% of the network) at the end of 2025.
Binance attributed the closure to an ongoing internal review of products and services as the company continues to broaden its business into areas such as stocks and tokenized assets. The pool shutdown removes a notable participant from the mining ecosystem and requires miners who used Binance Pool to find new mining destinations.
Sberbank added to Russia’s crypto provider registry
The Bank of Russia has added Sberbank to its registry of cryptocurrency exchange providers, following an earlier inclusion of the bank in the central bank’s registry of digital asset custodians. Russia’s largest bank plans to open crypto trading to all customers on December 1, initially supporting bitcoin (BTC), ether (ETH) and the stablecoin USDT, assets selected by the central bank.
Under the current regulatory framework, crypto payments remain prohibited in Russia. Starting in July 2027, the central bank requires that crypto transactions go through registered intermediaries. Sberbank’s authorization as both custodian and exchange provider positions it to offer trading services within those forthcoming rules, while adhering to the asset list approved by regulators.
What these developments mean together
Taken together, the stories show different facets of the industry adapting to security, regulatory and strategic pressures. The Ledger reseller incident has raised questions about the integrity of hardware wallet supply chains and prompted action from both Ledger and hardware wallet competitors. The Binance Pool shutdown reflects product rationalization at a large crypto firm as it reallocates focus. And Sberbank’s entry into the exchange registry demonstrates how regulated financial institutions are moving to deliver crypto access under central-bank supervision.
These events underline the dual priorities confronting the market: reinforcing trust and safety around custody and distribution, and aligning service models with evolving regulatory frameworks and corporate strategies.