False Ledger Live Crypto Effect Infiltrates Microsoft, $600,000 Vanishes!
Cryptocurrency researcher ZachXBT uncovered a staggering incident where nearly $600,000 worth of Bitcoin (BTC) was stolen from users who downloaded a counterfeit Ledger Live app from the Microsoft app store.
Reported by Cointelegraph on Monday (11/6/2023), ZachXBT found the fraudulent "Ledger Live Web3" on November 5th, deceiving users into thinking they were acquiring "Ledger Live," the interface for Ledger hardware wallets to securely store cryptocurrencies offline.
Approximately 16.8 BTC, valued at $588,000, were siphoned in 38 transactions using the wallet address "bc1q....y64q," as per Blockchain.com. Of this, around $115,200 was spent in two transactions, leaving $473,800 or 13.5 BTC.
In a subsequent update, ZachXBT noted that Microsoft may have removed the fake Ledger Live app from its platform.
The initial transaction sent to the scam wallet address occurred on October 24, totaling $5,210. Notably, the wallet had never been used before. Most of these transactions occurred post-November 2, with the largest transfer hitting $81,200 on November 4.
According to Cointelegraph's investigation, the fake "Ledger Live Web3" app surfaced on the Microsoft app store on October 19.
ZachXBT mentioned receiving messages from victims on November 4, asserting that Microsoft should be held accountable for allowing the fake Ledger Live app in their app store.
Regrettably, this isn't the first instance of a fake Ledger Live app infiltrating the Microsoft app store.
Ledger's support account on X (formerly Twitter) informed users about the fake Ledger Live app on two separate occasions in December and March.
While Ledger has yet to comment on this scam, they've repeatedly emphasized to users that the "only safe place" to download Ledger Live is from their official website, ledger.com.
