Singapore Police Report $2.7M Stolen via Compromised Ledger Hardware Wallets

Singapore Police Report $2.7M Stolen via Compromised Ledger Hardware Wallets

Authorities in Singapore report that hardware wallets from Ledger containing malicious modifications resulted in $2.7 million stolen from users, with initial reports surfacing weeks prior to the incident gaining widespread attention.

Authorities in Singapore have confirmed that a minimum of two incidents involving compromised Ledger hardware wallets have been documented since September 10, resulting in total financial losses of approximately 3.5 million Singapore dollars ($2.7 million), with local incident reports emerging nearly four weeks before the broader security breach gained public attention.

According to an official statement released on Wednesday by the Singapore Police Force, early-stage investigations have uncovered the presence of malicious hardware modifications embedded within Ledger wallets that were acquired from certain retail outlets operating in Singapore.

This revelation provides both a specific local financial damage assessment and an earlier timeline for the incident's emergence, which first entered public awareness on October 9 after reports surfaced regarding losses connected to devices distributed through CryptoBilis, a company serving as an officially authorized Ledger reseller operating across Indonesia, Malaysia and the Philippines.

Several days following that initial disclosure, Mark Karpelès, who previously served as CEO of the defunct Mt. Gox exchange, revealed that a Ledger Flex device he had purchased at Singapore's airport facility had been found to contain a surveillance implant.

A separate Ledger customer also came forward claiming their device, which had been purchased from Challenger, a well-known local information technology retailer, was compromised. This customer reported that Ledger subsequently provided them with a replacement device.

On October 13, Ledger issued a statement indicating that the company has formally requested retailers operating in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to immediately halt all sales of Ledger products while investigative efforts continue.

Law enforcement officials in Singapore have confirmed they are maintaining active communication with Ledger, which is currently conducting a review of the impacted cases, and that police investigative procedures remain underway.