Ledger’s Users Lose $588K to Fake App on Microsoft App Store

Ledger's Users Lose $588K to Fake App on Microsoft App Store

Blockchain investigator ZachXBT recently shared a tweet on November 5, revealing that the imposter ledger Live app was discovered on the Microsoft App Store, resulting in the loss of over 16 Bitcoins worth approximately $588,000 from users.

According to ZachXBT’s tweet, Users were tricked into downloading the scam app “Ledger Live Web3 “, designed to mimic the Original Ledger hardware wallet interface, “Ledger Live. “

This scam began with a transaction on the scammer’s wallet address on October 24, involving $5,210. Subsequently, there have been several significant transactions from the same address, with the largest one in November, which totaled $81,200.

However, Data from Blockchain.com reveals that the scammer received these stolen Bitcoins across 38 transactions using the wallet address “bc1qg0…cxy64q”. Subsequently, around $115,200 was moved from this wallet, leaving a balance of $473,800.

The fraudulent Ledger Live Web3 app surfaced on the Microsoft App Store in mid-October. However, Microsoft has since removed the Fraudulent app, as confirmed by a tweet from ZachXBT.

However, This incident marks the third appearance of the fake Ledger Live app on the Microsoft app store, with previous occurrences in December 2022.

In response to these threats, Ledger Support issued a warning on December 26, emphasizing that the only secure place to download Ledger Live is their official website. 

They also cautioned users against sharing their 24-word recovery phrase, noting that “Ledger will NEVER ask you for your 24-word recovery phrase.”

Also Read:ZachXBT Accuses Ben Armstrong of $4K Indicator Scam

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