Scammer loses $4.8M in Ledger supply chain attack as Asia cracks down

Ledger supply chain attack — A cryptocurrency scammer has reportedly lost $4.8 million in stolen funds after falling victim to a Ledger hardware wallet supply chain attack, as regulatory actions intensify across Asia.

According to blockchain analytics firm Chainalysis, the scammer lost 60 Bitcoin from three tampered Ledger devices containing spyware that recorded seed phrases. The funds were drained into a single wallet. The scammer had previously operated a ‘task scam’ that paid people to fake sales and reviews of real items. In response to the thefts, Ledger has suspended its reseller network across Southeast Asia, asking vendors in Indonesia, Singapore, Thailand, and other nations to remove devices from sale.

Separately, South Korean authorities have approved measures to block domestic access to 27 websites of unregistered crypto exchanges, including KuCoin, MEXC, and Bitrue. The Financial Intelligence Unit stated that blocking measures will now apply to internet websites in addition to mobile apps.

In Thailand, Bitcoin and Ether exchange-traded funds (ETFs) have launched trading on the Stock Exchange of Thailand under new rules finalized by the country’s Securities and Exchange Commission. The products must list exclusively on the local exchange, with brokers barred from facilitating investments in overseas crypto ETFs for most retail investors.