Buyers beware: Tampered Ledger wallets linked to S$3.5 million in cryptocurrency losses

SINGAPORE: The Singapore Police Force (SPF) has warned the public about tampered Ledger cryptocurrency hardware wallets after at least two victims lost a combined S$3.5 million since September 10, 2026.

Preliminary investigations found that Ledger hardware wallets bought from some retail stores in Singapore contained malicious hardware components. These could capture users’ recovery phrases or private keys, allowing unauthorised persons to access the wallets and transfer cryptocurrency without the owners’ knowledge or consent.

Hardware wallets are designed to be among the safest ways to store cryptocurrency, keeping private keys offline and away from internet-connected devices. A wallet that has been physically tampered with before purchase defeats that protection entirely, because the device itself captures the information it is meant to guard.

The SPF said it is in contact with Ledger, which is reviewing the affected cases. Police investigations are ongoing. The Police did not name the retail stores involved.

What users should do

The Police advised crypto holders to follow official advisories from their hardware wallet providers for the latest guidance.

Anyone who suspects their device has been tampered with should stop entering recovery phrases or making transactions on it, and contact the provider through official support channels. Users who believe their recovery phrases or private keys may have been compromised should consider moving their remaining assets to a new, trusted wallet with a freshly generated recovery phrase, using a device that has not been compromised.

Private keys, recovery phrases and seed phrases should never be shared with anyone, including people claiming to represent wallet providers, cryptocurrency exchanges or law enforcement. The Police also warned against unsolicited messages offering wallet verification or recovery help.

Anyone with information can call the Police Hotline at 1800-255-0000 or submit it at www.police.gov.sg/i-witness. For urgent assistance, dial 999. To check whether something is a scam, call the 24/7 ScamShield Helpline at 1799 or visit www.scamshield.gov.sg.

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