News · Security & Hacks
At least two victims lost funds after retail hardware devices modified with malicious components intercepted recovery phrases.
Key point 1 of 3
01
Singapore Police Force reported at least two cases of tampered Ledger hardware wallets leading to $3.5 million in total losses.
Key point 2 of 3
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Malicious components inside devices purchased at Singapore retail stores captured users' private keys and seed phrases.
Key point 3 of 3
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The SPF is actively investigating the incidents in contact with Ledger, which is reviewing the affected units.
Context
Supply-chain tampering has emerged as a distinct attack vector against hardware wallet users who purchase devices outside direct manufacturer distribution channels.
Why it matters
Retail crypto buyers in Singapore face asset drainage if using modified devices, highlighting the critical security risk of non-direct retail hardware purchases.
What to watch
Findings from the ongoing SPF investigation and potential technical advisories or hardware remediation guidance from Ledger.
Sources
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