Fake Ledger Live app sneaks into Microsoft’s app store, $588K stolen

Related: Ledger hardware wallet presents cloud-based private key recovery tool It isnt the very first time a phony Ledger Live app has made its method into Microsofts app store either.Ledgers support account on X (previously Twitter) notified its users about a fake Ledger Live app on two different events in December and March. Hey #ledger usersBeware of fake Ledger Live apps released on the Microsoft StoreThe only safe place to download Ledger Live is on our websitehttps:// t.co/ cDLX1rEWPfLedger will NEVER ask you for your 24-word recovery expression ❌ Stay safe pic.twitter.com/0dXTJ7FeuO— Ledger Support (@Ledger_Support) December 26, 2022

Ledger hasnt commented on the fraud however has formerly iterated to users that the “only safe location” to download Ledger Live is from its website, ledger.com.Cointelegraph reached out to Microsoft for comment however did not receive an instant response.Magazine: Account abstraction supercharges Ethereum wallets: Dummies guide

Almost $600,000 in Bitcoin (BTC) has actually been taken from users who downloaded a phony Ledger Live application on Microsofts app shop, according to cryptocurrency sleuth ZachXBT.The on-chain expert spotted the scam, “Ledger Live Web3,” on Nov. 5, which is deceiving users into thinking that theyre downloading “Ledger Live”– a user interface for Ledger hardware wallets to store cryptocurrency offline.Approximately 16.8 BTC worth $588,000 has actually been gotten by the fraudster across 38 deals utilizing the wallet address “bc1q … y64q,” according to Blockchain.com. About $115,200 has left the fraudsters wallet throughout two deals, leaving it with $473,800 or 13.5 BTC.Community Alert: There is currently a fake @Ledger Live app on the main @Microsoft App Shop which was resulted in 16.8+ BTC ($ 588K) stolenScammer addressbc1qg05gw43elzqxqnll8vs8x47ukkhudwyncxy64q pic.twitter.com/rOZ0ZWRWbn— ZachXBT (@zachxbt) November 5, 2023

In a follow-up post, ZachXBT noted that Microsoft may have eliminated the phony Ledger Live app from its platform.The first transaction sent out to the scammers wallet address took place on Oct. 24 for $5,210. A search by Cointelegraph found the fake “Ledger Live Web3” application appeared in Microsofts app store as early as Oct. 19. Source: MicrosoftZachXBT stated he got 2 messages from victims on Nov. 4 and even argued that Microsoft “ought to be held liable” for permitting the fake Ledger Live app to appear in its app store.Sadly got two messages about this from victims today.

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The recent incident involving a fake Ledger Live app on Microsoft’s app store has raised significant concerns among cryptocurrency users. This fraudulent application, named "Ledger Live Web3," tricked users into downloading it, resulting in the theft of approximately $588,000 in Bitcoin. Users are advised to only download Ledger Live from the official Ledger website to avoid falling victim to such scams.

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