Singapore Reports $3.5 Million in Losses From Tampered Ledger Crypto Wallets

Crypto users in Singapore have reportedly lost about $3.5 million after using tampered Ledger hardware wallets. The Singapore Police Force (SPF) said at least two cases have been reported since September 10, 2026. Preliminary investigations found that some Ledger wallets bought from retail stores in Singapore contained malicious hardware components. These components could steal users’ recovery phrases or private keys. With this information, attackers could access the wallets and move crypto assets without the owners’ knowledge or approval. The police said they are working with the French crypto wallet manufacturer, which is reviewing the reported cases. Investigations are still underway. The SPF has urged crypto holders to take precautions, especially if they suspect their hardware wallets have been compromised. Users should stop entering recovery phrases on suspicious devices and avoid making further transactions through them. Instead, they should contact their wallet provider through official support channels. Anyone who believes their recovery phrase or private key has been exposed should consider moving their remaining funds to a new, trusted wallet. This should be set up on a safe device with a newly generated recovery phrase. The police also warned users against sharing private keys or recovery phrases with anyone. This includes people claiming to work for wallet providers, crypto exchanges, or law enforcement agencies. The Singapore cases come amid an earlier investigation into tampered Ledger hardware wallets distributed through CryptoBilis, a reseller operating in Southeast Asia. Earlier this month, the company confirmed finding an unauthorized hardware implant inside a wallet belonging to an affected customer. The discovery followed reports of more than $80 million in suspected crypto losses involving devices sold through the reseller in Indonesia, Malaysia and the Philippines. The losses were later estimated to be around $102 million across 335 wallets on five blockchains by blockchain analytics firm Bitquery Ledger said it had contacted affected users and was working with authorities. It also asked CryptoBilis to stop selling its entire hardware wallet inventory while the investigation continued. The company said it had found no evidence that its own systems, services or security infrastructure had been compromised. Concerns also emerged over a Ledger device allegedly purchased from MediaMarkt in Europe. A user on X claimed the device showed signs of possible tampering. However, the claim remained unverified, and users have disagreed over what the images actually show. The post

📌 Recommended Exchanges

OKX | Binance | Bybit | Bitget | Gate.io