Ledger in Singapore: police report tampered devices and S$3.5 million in losses

Two cases reported since September

Singapore police published a warning about tampered Ledger hardware wallets on October 28, 2026. At least two cases have been reported since September 10, involving combined losses of approximately 3.5 million Singapore dollars. This figure is in the local currency and must not be presented as 3.5 million US dollars. The advisory provides a local assessment and reporting timeline without claiming to measure every incident elsewhere.

Preliminary investigations indicate that devices purchased from certain retail stores in Singapore contained malicious hardware components. Police say these components could capture a user's recovery phrase or private keys. Unauthorized people could then access the wallets and transfer assets without consent. The statement describes preliminary investigative findings; it supplies neither an exhaustive list of stores nor a total number of affected devices.

Keep secrets away from a suspicious device

The warning does not mean all Ledger wallets are compromised. It concerns physically modified devices in the cases examined. That distinction is essential to understanding the risk: owning a hardware device does not rule out tampering before or after purchase. Investigators still need to establish the path taken by the affected products and responsibility for the incident. Police say they are in contact with Ledger, which is reviewing the affected cases, and confirm that investigations are continuing.

Authorities recommend checking official manufacturer advisories and stopping operations on a device suspected of having been modified. In particular, users should avoid entering a recovery phrase or making further transactions on it. Support should be contacted through official channels. These precautions aim to avoid passing more information to equipment that has become suspect. They do not replace identification of the device and assessment of the individual case.

Protect assets without trusting unsolicited help

If a recovery phrase or private keys appear exposed, police advise considering a transfer of remaining assets to a trusted wallet, created on an uncompromised device with a newly generated recovery phrase. Reusing the exact same secret in another device does not resolve the original leak: anyone who knows it may retain access to the corresponding assets. This distinction explains why the advisory emphasizes both the integrity of the new device and generation of a new secret.

The other recommendation concerns messages received after an incident. Police advise against sharing keys or a recovery phrase with anyone, including people claiming to represent the manufacturer, an exchange or law enforcement. They also flag messages offering wallet verification or recovery. For affected users, the immediate priority is to protect assets and evidence useful to the investigation without entrusting secrets to another contact. The statement announces neither automatic reimbursement nor a universal remedy.