Singapore police said at least two cases involving tampered Ledger hardware wallets have resulted in losses of about S$3.5 million ($2.7 million) since September 10.
Preliminary investigations found that some Ledger devices purchased from local retail stores contained malicious hardware components capable of capturing users’ private keys or recovery phrases, potentially allowing attackers to access wallets and transfer cryptocurrency without authorization.
The disclosure adds to a widening investigation into suspected supply-chain compromises involving Ledger devices sold through 3rd-party retailers across Southeast Asia.
Ledger has asked resellers in
Singapore,
Malaysia,
Indonesia,
Thailand,
the Philippines,
Vietnam and
Hong Kong
to suspend sales while investigations continue.
REALITY CHECK | Europe’s Largest Consumer Electronics Retailer Removes Ledger Wallets Internationally
The company has said it has no indication that its own systems, services, or direct sales channels were compromised. Singapore police said they are working with Ledger as investigations continue.
The incident highlights a security risk beyond conventional crypto hacks where hardware wallets can be compromised before reaching users, undermining the protection offered by keeping private keys offline.
Singapore police urged users with suspected tampered devices to stop using them, avoid entering recovery phrases, and contact wallet providers through official support channels.
CRYPTO CRIME | Ledger Confirms Hardware Wallet Implant with Reported Crypto Losses Exceeding Over $80 Million
Stay tuned to BitKE on crypto crime developments globally.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
_________