Hackers Steal Over $760,000 in Crypto Through Fake Ledger App on Microsoft Store
A counterfeit Ledger Live application was recently discovered on the Microsoft App Store, resulting in the theft of more than $768,000, according to onchain analyst Zachxbt. Ledger, a well-known cryptocurrency hardware wallet manufacturer, alerted the community to the fake app and urged users to only download Ledger Live from their official website. Microsoft has since removed the counterfeit software from its applications store.
The stolen funds include over 16.8 bitcoins worth $588,000. In addition to this, another victim using an ETH/BSC address lost $180,000 due to the fake Ledger application. This incident highlights the lack of diligent vetting by app companies when it comes to ensuring the legitimacy of apps available on their platforms.
Ledger: ‘We Certainly Do Report It, but Only Microsoft Can Take It Down and Work on Their Side’
This is not the first time that imposter apps have made their way onto popular app stores. In March 2021, a counterfeit Trezor application resulted in the loss of an individual’s entire bitcoin savings. The victim expressed frustration towards Apple for allowing such apps on their App Store.
Microsoft, Apple, and Google have all unintentionally allowed fraudulent apps to be published on their platforms. These apps often aim to deceive users into revealing their seed or login details in order to steal their funds. Users should be vigilant and carefully verify the legitimacy of any app they download by checking for typos, mismatched icons or explanations, and verifying the developer’s contact details.
Ledger’s support team warned users about the fake Ledger Live apps and emphasized that the only safe place to download Ledger Live is from their official website. They also reported the issue to Microsoft and the community to raise awareness and prevent further incidents.
Hot Take: Protect Your Crypto Assets by Being Cautious When Downloading Apps
The recent incident involving a fake Ledger Live app on the Microsoft Store serves as a reminder of the importance of being cautious when downloading cryptocurrency-related apps. Hackers are constantly finding new ways to deceive users and steal their funds. To protect your crypto assets, it is crucial to only download apps from trusted sources, such as the official websites of wallet manufacturers. Additionally, always verify the legitimacy of an app by checking for any signs of fraud or inconsistencies. By staying vigilant and taking these precautions, you can reduce the risk of falling victim to such scams and ensure the security of your cryptocurrencies.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.