Tampered Ledger Wallets Cost Singapore Users $2.7 Million
Singapore police report that malicious hardware components found in Ledger wallets have cost local users approximately $2.7 million.
According to Cointelegraph, Singapore police have reported at least two cases involving tampered Ledger hardware wallets since Sept. 10, with combined losses reaching about 3.5 million Singapore dollars, equivalent to approximately $2.7 million. The disclosures place local reports nearly a month prior to when the wider incident surfaced publicly.
Malicious Hardware Found in Retail Stores
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In an advisory published on Wednesday, the Singapore Police Force stated that preliminary investigations revealed malicious hardware components within Ledger wallets purchased from various retail stores across Singapore. The wider incident became public on Oct. 9 following reports of losses involving devices sold through CryptoBilis, an authorized Ledger reseller operating in Indonesia, Malaysia, and the Philippines.
Additional reports emerged shortly after. Former Mt. Gox CEO Mark Karpelès stated that a Ledger Flex purchased at Singapore’s airport contained a spy implant. Another user reported a compromised device bought from local IT retailer Challenger, noting that Ledger later sent them a replacement.
Retail Sales Suspended
In response to the ongoing security issues, Ledger announced on Oct. 13 that it had asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to suspend sales of its hardware devices while investigations continue.
The Singapore Police Force confirmed it is in contact with Ledger as the company reviews the affected cases. Police investigations into the distribution of the compromised hardware remain ongoing.
Key facts
- Singapore police reported at least two cases of tampered Ledger wallets starting as early as Sept. 10.
- Combined local losses reached approximately 3.5 million Singapore dollars, or $2.7 million.
- Preliminary investigations found malicious hardware components in wallets bought from select Singapore retail stores.
- Ledger asked retailers across seven Asian jurisdictions to suspend device sales amid ongoing investigations.
Source: cointelegraph.com
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