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In a concerning turn of events, a bogus Ledger Live application managed to infiltrate the Microsoft app store, resulting in the theft of nearly $600,000 in Bitcoin (BTC). A vigilant crypto expert unearthed the scam, known as "Ledger Live Web3," cleverly masquerading as the legitimate "Ledger Live" interface designed for hardware wallets, enabling users to securely store their cryptocurrencies offline.
🚨 Hey #ledger users
— Ledger Support (@Ledger_Support) December 26, 2022
Beware of fake Ledger Live apps published on the Microsoft Store👀
The only safe place to download Ledger Live is on our website👇https://t.co/cDLX1rEWPf
Ledger will NEVER ask you for your 24-word recovery phrase ❌
Stay safe 🙏 pic.twitter.com/0dXTJ7FeuO
The fraudulent scheme successfully amassed a total of 16.8 BTC, equivalent to $588,000, through 38 distinct transactions. The scammer received these ill-gotten gains using the wallet address "bc1q....y64q," as reported by Blockchain.com. However, approximately $115,200 has already exited the scammer's wallet in two transactions, leaving them with $473,800 or 13.5 BTC.
The crypto expert's watchful eye detected the scam on November 5, and it seems that Microsoft may have taken swift action to remove the counterfeit Ledger Live app from its platform.
The initial transaction to the scammer's wallet transpired on October 24, involving a sum of $5,210. Interestingly, the wallet had been dormant prior to this. The majority of these transactions occurred since November 2, with the largest single transfer amounting to $81,200 on November 4.
An investigation by a leading crypto news source revealed that the deceptive "Ledger Live Web3" application had been present in the Microsoft app store as early as October 19.
Deeply concerned by the incident, the crypto expert disclosed that they had received messages from victims on November 4 and contended that Microsoft might bear responsibility for permitting the bogus Ledger Live app to populate its app store.
This unfortunate event isn't the first time that a fraudulent Ledger Live app has infiltrated Microsoft's app store. Ledger, a prominent hardware wallet provider, previously alerted its users to a fake Ledger Live app on two separate occasions, once in December and then in March. Ledger emphasizes that the "only safe place" to download Ledger Live is from its official website, ledger.com.
As the cryptocurrency space grapples with security challenges, this incident serves as a stark reminder of the importance of vigilance and only utilizing trusted sources for all crypto-related activities. 🚨💻
