HomeCoinsLitecoinTampered Ledger Wallets Cost Singapore Users $2.7M

Tampered Ledger Wallets Cost Singapore Users $2.7M

Singapore police say at least two cases involving tampered Ledger hardware wallets have been reported since Sept. 10, with combined losses of about 3.5 million Singapore dollars ($2.7 million), placing local reports almost a month before the wider incident became public.

In an advisory published Wednesday, the Singapore Police Force said preliminary investigations found malicious hardware components in Ledger wallets purchased from some retail stores in Singapore.

Read More:  Zoom adds ‘proof of human’ badges to show you’re not a deepfake

The disclosure adds both a local loss figure and an earlier reporting date to the incident, which surfaced publicly on Oct. 9 following reports of losses involving devices sold through CryptoBilis, an authorized Ledger reseller in Indonesia, Malaysia and the Philippines.

Days later, former Mt. Gox CEO Mark Karpelès said that a Ledger Flex purchased at Singapore’s airport contained a spy implant.

Read More:  Securitize Partners With LG CNS on Tokenized Assets in South Korea

Another Ledger user claimed to have a tampered device bought from local IT retailer Challenger. The user said he was later sent a new device from Ledger.

On Oct. 13, Ledger said it has asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to suspend sales of Ledger devices as investigations are ongoing.

Read More:  IBM opens beta Swift ledger link for 24/7 tokenized deposits

Singapore police said it is in contact with Ledger, which is reviewing the affected cases, while police investigations are ongoing.

Related: Ledger’s early implant warnings deserved more action, Karpelès says

Facebook Comments Box

LATEST POSTS

Strategy (MSTR) Shareholders Approve Daily Dividends On Four Preferred Stocks

Strategy shareholders have approved the Daily Dividends amendment, the company announced Wednesday. Preliminary results show 99.3% of votes cast were in favor, according...

Ripple is heading for its best year ever while XRP faces its worst since 2022

Ripple is expecting its strongest business year on record even as XRP heads toward its worst annual performance since 2022.The blockchain company said on Oct....

Most Popular

spot_img