Microsoft's app store infiltrated by fraudulent Ledger Live app, resulting in a staggering $588K theft

Fake Ledger Live App on Microsoft App Store Steals Almost $600,000 in Bitcoin

A fake Ledger Live application on Microsoft’s app store has resulted in the theft of nearly $600,000 worth of Bitcoin (BTC), according to cryptocurrency sleuth ZachXBT. The scam, known as “Ledger Live Web3,” tricks users into believing they are downloading the legitimate Ledger Live user interface for storing cryptocurrency offline. The scammer has received approximately 16.8 BTC across 38 transactions, totaling $588,000. However, $115,200 has been transferred out of the scammer’s wallet, leaving them with $473,800 or 13.5 BTC.

Microsoft Removes Fake App from Platform

ZachXBT noted in a follow-up post that Microsoft may have removed the fake Ledger Live app from its platform. The first transaction to the scammer’s wallet address occurred on October 24, and most of the transactions have taken place since November 2. The largest transfer amounted to $81,200 on November 4. ZachXBT received messages from victims on November 4 and argued that Microsoft should be held accountable for allowing the fraudulent app on its app store.

History of Fake Ledger Live Apps on Microsoft Store

This is not the first time a fake Ledger Live app has appeared on Microsoft’s app store. In December and March, Ledger’s support account warned users about similar scams. The company emphasized that the only safe place to download Ledger Live is from their official website and reiterated that they would never ask for users’ recovery phrases.

Hot Take: Beware of Fake Crypto Apps

This incident serves as a reminder to always exercise caution when downloading cryptocurrency apps. Scammers are constantly finding new ways to deceive users and steal their funds. To ensure the safety of your digital assets, only download apps from trusted sources such as official websites and app stores. Additionally, be wary of any requests for sensitive information or recovery phrases, as legitimate companies will never ask for these details. Stay vigilant and protect your crypto investments.