Singapore Police Report $2.7 Million Losses From Tampered Ledger Hardware Wallets
Singapore police have reported at least two cases involving tampered Ledger hardware wallets since Sept. 10, with victims suffering combined losses of approximately 3.5 million Singapore dollars, or $2.7 million. The disclosure indicates that incidents involving compromised devices were reported locally nearly a month before the issue gained wider public attention.
In an advisory published Wednesday, the Singapore Police Force said preliminary investigations had identified malicious hardware components in Ledger wallets purchased from certain retail stores in Singapore. Police are investigating the cases and coordinating with Ledger as the company reviews the affected devices.
Ledger Wallet Tampering Reports Surface Across Asia
The Singapore disclosure adds to reports that became public on Oct. 9, when losses involving Ledger devices sold through CryptoBilis came to light. CryptoBilis is an authorized Ledger reseller operating in Indonesia, Malaysia and the Philippines.
Several days after the initial reports, former Mt. Gox chief executive Mark Karpelès said a Ledger Flex he purchased at Singapore's airport contained a spy implant. Separately, another Ledger user claimed to have obtained a tampered device from local information technology retailer Challenger. The user said Ledger subsequently sent him a replacement device.
Ledger Asked Retailers to Suspend Device Sales
On Oct. 13, Ledger said it had asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales of its hardware wallets while investigations continued.
The reports have raised concerns about the integrity of hardware wallets sold through retail channels. In Singapore, authorities said preliminary findings pointed to malicious components in devices obtained from some local stores, although the investigation remains ongoing.
The Singapore Police Force said it is in contact with Ledger, which is reviewing the affected cases. Authorities have not provided further details about the reported incidents in the advisory described in the source material.
source: cointelegraph
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Check out other news and articles on Google News
Disclaimer:
The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.