Singapore Police Warn of Tampered Ledger Wallets After $2.7M Crypto Loss

• Singapore police say tampered Ledger wallets caused about $2.7 million in losses, with the first case reported on September 10.
• South Korea may delay its 22% crypto tax for a fourth time, possibly until 2029.
• Malaysia and Thailand joined Singapore’s BLOOM stablecoin payments project.
• The US sanctioned 10 people and one entity tied to North Korean IT worker schemes.
• Thailand’s Supreme Court ruled that Bitcoin counts as property under criminal law.

Singapore police say tampered Ledger hardware wallets were reported in the country almost a month before the wider problem became public. At least two cases have been reported since September 10.

The combined losses come to about 3.5 million Singapore dollars, or roughly $2.7 million. Police shared the figures in a consumer alert on October 28.

Ledger Wallet Cases Reach Singapore

The alert does not say if the September 10 case was reported at the time or later. Police said their investigation is still in its early stages.

Ledger issued its own public alert on October 9. The company said tampered devices had been found in the CryptoBilis supply chain. Almost $100 million was drained from wallets with spyware parts.

On October 13, Ledger asked retailers in seven places to pause sales of its devices. These were Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong.

South Korea Weighs Another Crypto Tax Delay

South Korean officials are reportedly considering a fourth delay of the country’s crypto tax. The tax is now set to start in January 2027.

News outlet Newsis reported that the tax could move to 2029. That is the earliest year officials could share crypto exchange tax data with the United States.

The plan would put a 22% tax on crypto gains for investors who earn more than 2.5 million won, about $1,883, each year.

South Korea also plans to regulate stablecoins used for payments. The Bank of Korea will require crypto transfer firms to send monthly reports starting December 2, covering activity back to mid-2024.

Crypto exchange Bithumb said its mobile system was hacked and personal data leaked. Daishin Securities reported about 38,000 customer records exposed.

Bank Negara Malaysia and the Bank of Thailand joined Singapore’s BLOOM project on Friday. The program helps banks use stablecoins and tokenized deposits for payments across borders.

A DBS survey of 422 global businesses found that almost 90% are using or interested in using tokenized cash.

In Hong Kong, Nasdaq-listed Solana Company was named a strategic enterprise. It was the only blockchain infrastructure firm added to the government program in 2026.

Crypto payments firm RedotPay plans a US IPO before the end of the year. A pre-IPO funding round values the company at $4 billion.

China set a 2030 target to largely finish a national blockchain network. The country still bans crypto business activity.

Thailand’s Supreme Court ruled that Bitcoin is property under criminal law. The case upheld a 10-year prison sentence in a robbery involving about $50,000 in Bitcoin.

Thailand also launched a wallet that lets tourists turn USDT or USDC into Thai baht for spending through PromptPay QR codes.

On Wednesday, the US Treasury sanctioned 10 people and one entity for supporting North Korean IT worker schemes. Chainalysis traced how Russian middlemen helped those workers cash out millions in crypto through Garantex.