Singapore Police Link Tampered Ledger Wallets to $2.7 Million in Crypto Losses

Singapore authorities say at least two people reported tampered Ledger hardware wallets as far back as Sept. 10, with combined losses of roughly 3.5 million Singapore dollars, or $2.7 million. That puts local complaints almost a month ahead of the date the wider problem became public. In a Wednesday advisory, police said early checks found malicious hardware parts inside wallets bought from certain retail shops in the country.

How the Ledger Wallet Incident Unfolded

The issue first drew attention on Oct. 9, after users reported losses tied to devices sold by CryptoBilis, an authorized Ledger reseller serving Indonesia, Malaysia and the Philippines. Days later, former Mt. Gox CEO Mark Karpelès said a Ledger Flex he bought at Singapore’s airport held a spy implant. Another user claimed his device from local retailer Challenger was also tampered with, and said Ledger later sent him a replacement.

Ledger’s Response and Ongoing Investigation

On Oct. 13, Ledger asked retailers across Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to pause sales of its devices while checks continue. Singapore police said they are in touch with Ledger, which is reviewing the affected cases, and their own investigation is still under way.