Singapore Police: Tampered Ledger Hardware Wallets Have Caused Losses of Approximately S$3.5 Million

October 29 - Singapore police announced that since September 10, they have received at least two reports where victims collectively lost approximately S$3.5 million after purchasing Ledger hardware wallets from some retail channels in Singapore. Preliminary investigations show that some Ledger devices sold through local retailers contain malicious hardware components that can steal mnemonic phrases or private keys, thereby transferring crypto assets without the user's knowledge.

Police are in contact with Paris-based Ledger and are reviewing the related cases. The specific retail stores involved and how the malicious components entered the supply chain have not been disclosed. Singapore police advise users to pay attention to official security tips for hardware wallets, not to enter mnemonic phrases or continue transactions on suspected tampered devices, and if they suspect their mnemonic phrases or private keys have been exposed, they should use unaffected devices to transfer remaining assets to a new wallet and regenerate mnemonic phrases, and never disclose private keys or mnemonic phrases to anyone.