Singapore police link S$3.5 million in crypto losses to tampered Ledger hardware wallets
Singapore authorities warned that tampered Ledger hardware wallets purchased from local retailers contained malicious implants capable of stealing private keys, leading to about S$3.5 million in losses.
The Singapore Police Force warned the public that Ledger hardware wallets bought from local retail stores were modified with malicious hardware components designed to steal users' private keys and recovery phrases. In an advisory issued on Oct. 28, authorities linked the tampered devices to at least two reported cases dating back to Sept. 10, resulting in roughly S$3.5 million ($2.7 million) in total losses.[5][2][3][6]
Police stated that the illicit implants enabled unauthorized access to drain stored digital assets without the victims' awareness. Investigators have remained in contact with Ledger as the French manufacturer reviews the affected incidents. However, the police advisory did not disclose the names of the retail shops, specific Ledger models involved, purchase timelines, or identified suspects, nor did it clarify whether these cases connect directly to unauthorized drains Ledger disclosed earlier in the month.[5][2][4]
Authorities instructed anyone who suspects their device has been compromised to halt all transactions, stop entering recovery phrases, and transfer remaining funds to a freshly generated wallet on a clean device. In an earlier disclosure on Oct. 13, Ledger confirmed finding an added component in a device from Southeast Asian reseller CryptoBilis that decoded recovery phrases and transmitted them over LTE, prompting the company to pause sales across Singapore and several other Asian markets while describing the incident as a localized distribution attack.[5][7][8]
Key facts
- An Oct. 28 advisory from the Singapore Police Force linked tampered Ledger wallets to about S$3.5 million ($2.7 million) in losses across at least two cases reported since Sept. 10.
- The compromised hardware wallets, purchased from local Singapore retailers, contained implants capable of intercepting seed recovery phrases and private keys.
- The police advisory did not identify specific stores, device models, transaction dates, or suspects.
- Ledger is reviewing the affected cases alongside ongoing investigations by Singapore police.
- Ledger had previously asked authorized resellers to suspend wallet sales in Singapore, Hong Kong, and five other Asian markets after discovering an LTE-transmitting component inside a unit sold by reseller CryptoBilis.
Sources · 8 sources
- TW
The Wolf Of All Streets@scottmelkerPost on X ·
JUST IN: 🇸🇬 Singapore police say some Ledger wallets sold in local stores had malicious implants, ~S$3.5M lost https://t.co/eoSkqkt9Hb
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Singapore Police Say Ledger crypto Wallets Sold at Local Retailers Contained Malicious Hardware Implants Singapore police said on October 28 that some Ledger cryptocurrency hardware wallets purchased from local retailers contained malicious hardware implants capable of stealing users' recovery phrases or private keys. At least two cases have been reported since September 10, resulting in losses of approximately S$3.5 million ($2.7 million). Ledger, a leading French hardware wallet manufacturer, is reviewing the affected cases, while police investigations remain ongoing.
Open source - CT
Coin TelegraphArticle ·
Tampered Ledger wallets cost Singapore users $2.7M: Police Police say at least two cases were reported as early as Sept. 10, nearly a month before the wider incident became public.
Open source - LS
Laura Shin@laurashinPost on X ·
Singapore's police advisory on tampered Ledger wallets names no stores or models, counts cases from Sept. 10 onward, and says Ledger is reviewing them. https://t.co/RIARxv5u1Q
Open source - UN
UnchainedArticle ·
Singapore Police Link S$3.5 Million in Losses to Ledger Wallets Bought From Local Stores Some Ledger hardware wallets sold in Singapore shops had malicious hardware components inside them, according to early findings from the Singapore Police Force . In an advisory issued on Oct. 28, police counted at least two cases reported from Sept. 10 onward, with about S$3.5 million (about $2.7 million) lost in total. The advisory gives the figure without a currency code. Unchained reads it as Singapore dollars because the release comes from Singapore police, and converted it at the European Central Bank’s Oct. 28 reference rates , which work out to about S$1.28 per U.S. dollar. The window police used opens on Sept. 10, 29 days before Oct. 9 , when Ledger disclosed wallet drains tied to devices sold through a Southeast Asian reseller. The advisory does not say whether the Singapore cases are connected to those drains. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . What the Police Said According to police, the components “could capture users’ recovery phrases or private keys,” which would let outsiders get into the wallets and move funds without the owners knowing. “The SPF is in contact with Ledger, which is reviewing the affected cases,” the advisory said, adding that the investigation continues. The advisory does not name the stores, the wallet models involved or when the devices were bought, and it does not identify any suspects. Police urged anyone with a device they suspect was tampered with to stop entering its recovery phrase or sending transactions from it, and to reach the wallet maker through official support channels. Anyone who suspects their recovery phrase or keys were compromised should consider moving what is left to a new wallet set up with a fresh recovery phrase on a clean device, police said. They also told people never to share seed phrases, including with anyone claiming to speak for a wallet company, an exchange or law enforcement. Ledger’s Earlier Statements In an Oct. 13 update, Ledger said its researchers found an added part in a device bought from CryptoBilis, a Southeast Asian reseller, that decoded the recovery phrase as it appeared during setup and transmitted it over LTE, and that day it asked sellers in Singapore and six other Asian markets to pause sales. In an Oct. 15 blog post , 13 days before the police advisory, the company called the episode “a localized distribution attack” rather than a systemic supply chain one. Rival Trezor said on Oct. 13 that it would cut the number of resellers allowed to sell its devices, citing recent supply-chain incidents. Zero Knowledge Group founder Austin Campbell has pointed to the drains to argue that self-custody users should favor simpler setups. Police asked anyone with information to call the Police Hotline at 1800-255-0000. Related Listen: Why a $100M Ledger Reseller Attack Has Crypto Rethinking Self-Custody The post Singapore Police Link S$3.5 Million in Losses to Ledger Wallets Bought From Local Stores appeared first on Unchained .
Open source - TS
The Straits Times@straits_timesPost on X ·
About $3.5 million lost in S’pore due to tampered Ledger crypto hardware wallets https://t.co/t1MinJ9UjT
Open source - DE
Decrypt@DecryptMediaPost on X ·
Singapore police report about S$3.5M in losses from tampered Ledger wallets bought at some local stores. At least 2 cases have been reported since Sept. 10. Ledger has asked authorized resellers to suspend sales in Southeast Asia and Hong Kong. https://t.co/Jjq3kBSMsi
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Singapore police warn of tampered Ledger wallets sold in retail stores At least two cases since Sept. 10 involved devices allegedly designed to steal recovery phrases and private keys, prompting police to warn against suspicious sellers and urge users in doubt to move funds to a new wallet.
Open source