Singapore Police Warn of Tampered Ledger Wallets After $3.5M in Crypto Stolen

The Singapore Police Force (SPF) issued a public advisory on Oct. 28, 2026, warning of compromised Ledger hardware wallets following the theft of roughly $3.5 million across at least two reported cases ¹.

According to preliminary investigations by the SPF, victims purchased Ledger devices from local retail stores in Singapore that contained malicious hardware modifications ¹. These physical components intercepted private keys and recovery phrases, enabling unauthorized actors to drain crypto holdings without user authorization ¹. The first incidents were detected starting on Sept. 10, 2026 ¹.

Police Coordinate with Ledger as Inquiries Continue

Singapore authorities confirmed that active investigations remain underway and that police officials are liaising directly with Ledger, which is currently reviewing the reported incidents ¹. The advisory urges cryptocurrency owners to cease using any devices suspected of physical tampering, avoid entering recovery phrases into compromised hardware, and immediately sweep remaining balances to uncompromised wallets generated on verified units ¹.

The SPF also cautioned owners against sharing seed phrases under any circumstances, noting that neither wallet manufacturers nor law enforcement agencies will request private keys ¹. The incident emphasizes the persistent physical supply chain vulnerabilities facing self-custody holders, even as market participants routinely turn to hardware devices to mitigate remote cyber risks ¹. At the time of writing, major crypto markets traded lower, with $BTC changing hands at $79,749 and $ETH at $2,302.