Payward, Kraken’s parent, bought a Lithuanian bank, and Ledger has stopped sales in Southeast Asia after tampered wallets were found, prompting Trezor to cut its reseller network.
Key Takeaways
- Payward’s purchase of Saldo Bank gives Kraken an EU banking licence and entry into four European markets.
- Ledger has ordered a sales halt in six Southeast Asian countries and Hong Kong after reports of tampered wallets.
- Trezor is cutting its authorized reseller network as a precaution, despite no evidence of its own devices being compromised.
- Potential losses from the Ledger implant are estimated between $72 million and $86 million.
- Users are advised to buy hardware wallets directly from manufacturers and consider multisignature solutions.
Payward’s Lithuanian Bank Acquisition
Payward, the parent of Kraken, signed a definitive agreement to acquire Saldo Finance Oy, whose subsidiary Saldo Bank UAB holds a Lithuanian digital‑bank licence. The deal grants Payward an EU banking licence and a foothold in Lithuania, Finland, Sweden and Germany, with passporting rights into the Netherlands. The transaction is expected to close in 2027 after regulatory approvals.
Ledger Halts Southeast Asian Sales
Read our earlier report: Fall Flight Essentials: 11 Must‑Have Accessories
Ledger has ordered resellers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to stop selling its hardware wallets and remove stock from shelves. The halt follows reports of tampered devices that captured recovery phrases and transmitted them via cellular networks, a problem confined to the region. Ledger says the tampering involved a hardware implant that reads screen data, distinct from firmware hacks.
Trezor Cuts Reseller Network
In response, Trezor has stripped authorized status from affected resellers effective Jan 1 and halted shipments. Trezor’s chief commercial officer said there is no evidence its own devices were compromised, but the precaution aims to protect users amid supply‑chain uncertainty. The company advises customers to buy directly from manufacturers and consider multisignature setups.
Implications for Crypto Users
These events underscore growing scrutiny of crypto infrastructure, from traditional banking expansion to hardware‑wallet security. Users should verify the provenance of any wallet, prefer direct purchases, and monitor accounts for unusual activity. Potential losses from the Ledger implant are estimated between $72 million and $86 million.
Broader Market Context
For broader market context, see our recent piece on Aptos’s mempool encryption and stablecoin regulatory pressures: https://www.nadiagist247.com/2026/10/aptos-encrypts-mempool-stablecoins.html
Frequently Asked Questions
When is the Payward‑Saldo Bank deal expected to close?
The acquisition is slated for completion in 2027, subject to regulatory approvals.
Which countries are affected by Ledger’s sales suspension?
Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong.
How can users protect themselves from hardware‑wallet tampering?
Purchase devices directly from the maker, verify packaging, use multisignature wallets and monitor accounts for unusual activity.
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