Singapore Police say tampered Ledger hardware wallets have caused approximately 3500000 Singapore dollars in losses

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Singapore police: Tampered Ledger hardware wallets have caused losses of approximately 3500000 Singapore dollars in losses

BlockBeats reported that,October 29, Singapore Police announced that, since September 10 at least two cases have been reported, in which the individuals purchased Ledger hardware wallets through certain retail channels in Singapore and collectively lost approximately 3500000 Singapore dollars. Preliminary investigations indicate that some Ledger devices sold by local retailers contained malicious hardware components capable of stealing recovery phrases or private keys and subsequently transferring crypto assets without the users’ knowledge.

Police are maintaining contact with Ledger, headquartered in Paris, France, and are reviewing the relevant cases. The specific retail outlets involved and how the malicious components entered the supply chain have not been disclosed. Singapore Police advise users to monitor official security notices from hardware wallet providers, refrain from entering recovery phrases or continuing transactions on suspected tampered devices, and, if they suspect that their recovery phrases or private keys have been exposed, use an unaffected device to transfer the remaining assets to a new wallet and generate a new recovery phrase. Users should never disclose their private keys or recovery phrases to anyone.

Original link https://m.theblockbeats.info/flash/374439

Key points

From September 10 onward, Singapore Police received at least two related cases.
Individuals who purchased Ledger hardware wallets through certain retail channels in Singapore suffered aggregate losses of approximately 3500000 Singapore dollars.
Preliminary investigations indicate that some devices contained malicious hardware components capable of stealing seed phrases or private keys.
Police are contacting Ledger, which is headquartered in Paris, France, and reviewing the cases.
The specific retail stores involved and how the malicious components entered the supply chain have not been disclosed.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Malicious components in hardware wallets may obtain users' seed phrases or private keys and transfer crypto assets without their knowledge.

Why it matters to readers

Users of devices suspected of being tampered with may face a risk of their assets being transferred and should follow official security advisories.

A seed phrase and private key are critical information equivalent to control over the assets in a crypto wallet; they should not be entered into devices suspected of being tampered with or disclosed to others.

Risks and unknowns

The specific retail stores involved have not yet been disclosed.
How the malicious component entered the supply chain has not yet been disclosed.
The police and Ledger are still reviewing the relevant cases.
The scope of affected devices and whether there are additional cases were not specified in the source.

Singapore Police say tampered Ledger hardware wallets have caused approximately 3500000 Singapore dollars in losses

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