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

Singapore police said crypto users lost about $3.5 million after using tampered Ledger hardware wallets, with at least two cases reported since September 10, 2026. Preliminary investigations found that some Ledger wallets bought from retail stores in Singapore contained malicious hardware components that could steal recovery phrases or private keys, allowing attackers to move assets without owners' knowledge or approval. Police are working with French manufacturer Ledger, which is reviewing the cases, and investigations are ongoing. The cases follow an earlier probe into tampered Ledger wallets sold through Southeast Asian reseller CryptoBilis; blockchain analytics firm Bitquery later estimated about $102 million in losses across 335 wallets on five blockchains after suspected losses were reported in Indonesia, Malaysia and the Philippines.