Singaporean authorities have confirmed that residents lost a total of SGD 3.5 million, or approximately $2.7 million, due to compromised Ledger hardware wallets. Police reports indicate that at least two incidents were documented as early as September 10, predating the broader public disclosure of the security issue by nearly a month.
Preliminary investigations by the Singapore Police Force revealed that the affected devices contained malicious hardware components. These tampered wallets were reportedly purchased from various retail outlets within Singapore, including the IT retailer Challenger. The police are currently coordinating with Ledger to investigate the specific cases.
The security incident gained wider attention on October 9, following reports of compromised devices sold through CryptoBilis, an authorized reseller operating in Indonesia, Malaysia, and the Philippines. Additionally, former Mt. Gox CEO Mark Karpelès reported discovering a spy implant in a Ledger Flex device he purchased at a Singaporean airport.
In response to the ongoing investigation, Ledger requested that retailers in Singapore, Indonesia, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong suspend the sale of its hardware devices starting October 13. The company is actively reviewing the reported cases while local law enforcement continues its inquiry.
