Singapore police are investigating at least two cases in which crypto users reportedly lost a combined $3.5 million after using tampered Ledger hardware wallets bought from local retail stores. The cases have been reported since September 10, 2026, according to the Singapore Police Force.

Preliminary findings indicate that some of the devices contained malicious hardware components capable of capturing recovery phrases or private keys. If those credentials were exposed, attackers could gain access to the wallets and transfer digital assets without the owners’ knowledge or consent.

Police say retail-bought devices may have been altered

The Singapore Police Force said the affected wallets were purchased from retail outlets in Singapore rather than directly from Ledger. Investigators believe certain devices may have been physically modified before reaching customers.

Authorities are working with Ledger to review the reported incidents, and the investigation remains ongoing. The police did not say how many total devices may be affected beyond the two reported cases.

Authorities urge users to stop using suspicious wallets

The SPF advised crypto holders not to enter recovery phrases into any device they suspect may have been tampered with. It also warned users to avoid making further transactions through those wallets until the risk is assessed.

People who think their credentials may have been exposed were told to contact their wallet provider through official support channels and to consider moving any remaining assets to a new, trusted wallet set up on a safe device with a newly generated recovery phrase.

Police also repeated a broader warning not to share private keys or recovery phrases with anyone, including people claiming to represent wallet providers, crypto exchanges, or law enforcement.

Case follows wider concern over altered Ledger devices

The Singapore cases come after an earlier investigation involving Ledger hardware wallets distributed through Southeast Asian reseller CryptoBilis. In that matter, CryptoBilis said it found an unauthorized hardware implant inside a wallet belonging to an affected customer.

Reports tied to devices sold through the reseller in Indonesia, Malaysia, and the Philippines initially pointed to more than $80 million in suspected losses. Blockchain data firm Bitquery later estimated the figure at about $102 million across 335 wallets on five blockchains.

Ledger and resellers remain under scrutiny

Ledger previously said it had contacted affected users and was cooperating with authorities. The company also said it asked CryptoBilis to halt sales of its full hardware wallet inventory while the investigation continued.

At the same time, Ledger said it had found no evidence that its own systems, services, or security infrastructure had been compromised. Separate concerns were also raised about a Ledger device allegedly bought from MediaMarkt in Europe, though that claim had not been verified.

For now, the confirmed next step in Singapore is the continuing joint review by police and Ledger, with authorities focused on determining how the devices were altered and whether more users were affected.

Source: cryptopotato.com