Key facts
- Kraken parent Payward plans to acquire Lithuania-based Saldo Bank.
- The acquisition is expected to close in 2027, subject to regulatory approvals.
- Ledger asked resellers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales.
- Trezor is reducing its authorized reseller network, with affected resellers losing authorized status on January 1.
- Blockchain investigators estimate potential losses from tampered Ledger devices between $72 million and $86 million.
Kraken's parent company, Payward, has announced plans to acquire Saldo Bank, a digital bank based in Lithuania, as part of its strategy to expand into traditional financial services. The acquisition, which is subject to regulatory approvals and expected to close in 2027, would allow Payward Banking to offer services such as interest on deposits, lending products, and banking-as-a-service capabilities.
In parallel, hardware wallet manufacturers Ledger and Trezor are implementing precautionary measures following reports of tampered devices in Southeast Asia. Ledger has requested its resellers in six Southeast Asian countries and Hong Kong to suspend sales and remove its hardware wallets from shelves while it investigates unauthorized hardware implants designed to steal users' recovery phrases. The company stated that confirmed incidents remain contained to Southeast Asia.
Trezor, while having no evidence of its own devices being compromised, is reducing its authorized reseller network. Affected resellers will lose their status on January 1, and shipments to them will cease immediately. Trezor's chief commercial officer, Danny Sanders, noted that while their existing checks can detect counterfeit devices, the Ledger implant operated differently by reading information displayed on the device's screen. Blockchain investigators have estimated potential losses from the Ledger incidents to be between $72 million and $86 million, though Ledger has not confirmed the total.