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News

Microsoft App Store Users Lose $588,000 to Fake Ledger Live App

November 5, 2023 - Around 2 mins mins to read

Key Points:

  • A fake Ledger Live app was available for download on the Microsoft App Store, and it stole nearly $600,000 in Bitcoin from unsuspecting users.
  • The fake app Ledger Live was called “Ledger Live Web3,” and it tricked users into thinking they were installing the genuine Ledger Live app.
  • The scammers managed to steal around 16.8 BTC, equivalent to $588,000, through 38 transactions.
A substantial sum of nearly $600,000 in Bitcoin has been stolen due to individuals unknowingly downloading a fake Ledger Live application from Microsoft’s app store.
Microsoft App Store Users Lose $588,000 to Fake Ledger Live App

Fake Ledger Live App Steals $588,000 in Cryptocurrency

The deceptive application, called “Ledger Live Web3,” tricks users into thinking they are installing the genuine Ledger Live interface for secure offline storage of cryptocurrency using Ledger hardware wallets. The scammer has managed to accumulate around 16.8 BTC, equivalent to $588,000, through 38 transactions using the wallet address “bc1q….y64q,” as reported by Blockchain.com.

A total of approximately $115,200 has been withdrawn from the scammer’s wallet in two separate transactions, leaving a remaining balance of $473,800 or 13.5 BTC. It was later mentioned by ZachXBT that Microsoft may have removed the fraudulent Ledger Live app from its platform.The first transaction sent to the scammer’s wallet occurred on October 24, totaling $5,210. Prior to that, the wallet had been inactive.

Fake Ledger Live App Exposes Security Flaws in Microsoft App Store

The majority of these transactions have occurred since November 2, with the largest transfer amounting to $81,200 on November 4. An investigation conducted by Cointelegraph revealed the existence of the fake “Ledger Live Web3” application in Microsoft’s app store as early as October 19. This is not the first time a counterfeit Ledger Live app has infiltrated Microsoft’s app store.

Ledger’s support account on social media platform X (formerly Twitter) has previously alerted users to the presence of a counterfeit Ledger Live app on two separate occasions in December and March. While Ledger has not issued a statement specifically addressing this scam, it consistently emphasizes to users that the official and secure source to obtain Ledger Live is from its official website, ledger.com. Efforts have been made to contact Microsoft for comment, but no immediate response has been received at this time.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

News

Microsoft App Store Users Lose $588,000 to Fake Ledger Live App

Key Points:

  • A fake Ledger Live app was available for download on the Microsoft App Store, and it stole nearly $600,000 in Bitcoin from unsuspecting users.
  • The fake app Ledger Live was called “Ledger Live Web3,” and it tricked users into thinking they were installing the genuine Ledger Live app.
  • The scammers managed to steal around 16.8 BTC, equivalent to $588,000, through 38 transactions.
A substantial sum of nearly $600,000 in Bitcoin has been stolen due to individuals unknowingly downloading a fake Ledger Live application from Microsoft’s app store.
Microsoft App Store Users Lose $588,000 to Fake Ledger Live App

Fake Ledger Live App Steals $588,000 in Cryptocurrency

The deceptive application, called “Ledger Live Web3,” tricks users into thinking they are installing the genuine Ledger Live interface for secure offline storage of cryptocurrency using Ledger hardware wallets. The scammer has managed to accumulate around 16.8 BTC, equivalent to $588,000, through 38 transactions using the wallet address “bc1q….y64q,” as reported by Blockchain.com.

A total of approximately $115,200 has been withdrawn from the scammer’s wallet in two separate transactions, leaving a remaining balance of $473,800 or 13.5 BTC. It was later mentioned by ZachXBT that Microsoft may have removed the fraudulent Ledger Live app from its platform.The first transaction sent to the scammer’s wallet occurred on October 24, totaling $5,210. Prior to that, the wallet had been inactive.

Fake Ledger Live App Exposes Security Flaws in Microsoft App Store

The majority of these transactions have occurred since November 2, with the largest transfer amounting to $81,200 on November 4. An investigation conducted by Cointelegraph revealed the existence of the fake “Ledger Live Web3” application in Microsoft’s app store as early as October 19. This is not the first time a counterfeit Ledger Live app has infiltrated Microsoft’s app store.

Ledger’s support account on social media platform X (formerly Twitter) has previously alerted users to the presence of a counterfeit Ledger Live app on two separate occasions in December and March. While Ledger has not issued a statement specifically addressing this scam, it consistently emphasizes to users that the official and secure source to obtain Ledger Live is from its official website, ledger.com. Efforts have been made to contact Microsoft for comment, but no immediate response has been received at this time.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.