Singapore police report losses from tampered Ledger hardware wallets

Singapore police issued a consumer alert stating that at least two cases involving tampered Ledger hardware wallets have been reported since September 10, according to Cointelegraph, The Defiant, and Traders Union. The incidents resulted in combined losses of about 3.5 million Singapore dollars, which equals approximately 2.7 million United States dollars. The first local report occurred nearly a month before the broader issue became public. [1][2][3][4]

According to Cointelegraph, the October 28 consumer alert from the police did not clarify whether the initial September 10 incident was reported immediately or filed retroactively. As FTMQ Crypto reported earlier, Ledger requested resellers in Hong Kong and six Southeast Asian nations to halt sales following spyware concerns, after initial thefts were traced to devices sold by a reseller on October 9. The Defiant reported that Ledger issued its own public alert on October 9. [1][2][3][8][9]

A blockchain is a distributed ledger containing cryptographic records linked together in sequential blocks, making transaction data resistant to retroactive alteration. Singapore is an island city-state situated in Southeast Asia. As FTMQ Crypto reported earlier, supply chain attackers targeting hardware wallets implanted spyware into devices, and Ledger subsequently suspended its reseller network across the region. [5][7][8][9]

Cointelegraph noted that if the September 10 police report was made in a timely manner, it raises questions about whether Ledger was informed at the time or if law enforcement was prepared to issue warnings to the public earlier. [1][2]