Singapore Police Report $2.7 Million Losses Linked to Compromised Ledger Wallets

Incident Overview

As of September 10, the Singapore Police Force has registered at least two incidents involving compromised Ledger hardware wallets, revealing losses that amount to approximately 3.5 million Singapore dollars (around $2.7 million). This timeline indicates that concerns regarding the tampered devices were brought to light nearly a month before the situation gained wider media attention in early October.

Initial Findings

In a statement released on Wednesday, police detailed initial findings which suggest that some Ledger wallets bought from various retail locations in Singapore contain malicious hardware components. This alarming information surfaced in conjunction with reports from October 9, which highlighted losses stemming from Ledger products sold through CryptoBilis, a recognized Ledger distributor in Indonesia, Malaysia, and the Philippines.

Additional Reports

Compounding these issues, former Mt. Gox CEO, Mark Karpelès, revealed that a Ledger Flex he purchased at Singapore's airport was found to be infected with a spying implant. Additionally, another user reported acquiring a tampered Ledger wallet from the local IT retailer Challenger and indicated that the company sent him a replacement device.

Response and Investigation

In response to the ongoing investigations, Ledger announced on October 13 that it has urged retailers in a range of countries, including Singapore, Vietnam, and Hong Kong, to halt the sale of Ledger products until a thorough review is complete. The Singaporean police are collaborating closely with Ledger to investigate the situation further, indicating a strong commitment to addressing this potential security breach that has impacted local consumers.