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

Singapore’s police announced that since September 10, they have received at least two cases where victims purchased Ledger hardware wallets from some local retail outlets, suffering total losses of around SGD 3.5 million. Preliminary investigations show that some Ledger devices sold via local retailers contain malicious hardware components capable of stealing mnemonic phrases or private keys, enabling unauthorized transfer of crypto assets without users’ knowledge. The police are in contact with Paris-based Ledger and reviewing the cases. The specific retail outlets involved and how the malicious components entered the supply chain have not been disclosed. Singapore’s police advised users to follow official security guidelines for hardware wallets, avoid inputting mnemonic phrases or conducting transactions on suspected tampered devices. If users suspect their mnemonic phrases or private keys have been compromised, they should transfer remaining assets to a new wallet using an unaffected device, regenerate a new mnemonic phrase, and never disclose private keys or mnemonic phrases to anyone.