Singapore police report $3.5M losses from tampered Ledger wallets

Cryptocurrency users in Singapore have lost approximately S$3.5 million after purchasing tampered Ledger hardware wallets from local retailers, prompting a police investigation into devices containing malicious components. Summary Singapore police have reported approximately S$3.5 million in cryptocurrency losses across two cases involving tampered Ledger hardware wallets purchased from local retailers since September 10. Preliminary investigations found that the affected devices contained malicious hardware components capable of capturing users’ recovery phrases or private keys and allowing unauthorized transfers. Ledger suspended hardware wallet sales across several Southeast Asian markets, including Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam and Hong Kong, after discovering compromised devices. Blockchain analysts previously estimated losses linked to compromised wallets at more than US$86 million, although Ledger said it could not confirm the total amount stolen or the number of affected users. According to an October 28 advisory from the Singapore Police Force, at least two cases involving compromised Ledger devices have been reported since September 10...