Saturday, 2 December 2023

Crypto News

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

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

Almost $600,000 in Bitcoin (BTC) has been stolen from users who have downloaded a fake Ledger Live application on Microsoft’s app store, according to cryptocurrency sleuth ZachXBT.

The on-chain analyst spotted the scam, “Ledger Live Web3” on Nov. 5, which is tricking users into thinking that they’re downloading “Ledger Live” — a user interface for Ledger hardware wallets to store cryptocurrency offline.

Approximately 16.8 BTC worth $588,000 has been received by the scammer across 38 transactions using wallet address, “bc1q….y64q,” according to About $115,200 has left the scammer’s wallet across two transactions, leaving it with $473,800 or 13.5 BTC.

The first transaction sent to the scammer’s wallet address took place on Oct. 24, worth $5,210. Prior to that, the wallet hadn’t been used.

Most of these transactions have taken place since Nov. 2, with the largest transfer totaling $81,200 on Nov. 4.

A search by Cointelegraph found the fake “Ledger Live Web3” application appeared in Microsoft’s app store as early as Oct. 19.

The fake “Ledger Live Web3” app on Microsoft Apps. Source: Microsoft

ZachXBT said they have received two messages from victims on Nov. 4 and even argued that Microsoft “should be held liable” for allowing the fake Ledger Live app to appear in its app store.

Related: Ledger hardware wallet rolls out cloud-based private key recovery tool

It isn’t the first time a fake Ledger Live app has made its way into Microsoft’s app store either.

Ledger’s support account on X (formerly Twitter) informed its users about a fake Ledger Live app on two separate occasions in December and March.

Ledger hasn’t commented on the scam but has…

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