Nearly $600,000 Stolen Through Fake Ledger Live App FromMicrosoft’s App Store? 💸
Approximately $588,000 in #Bitcoin was #stolen from users who unknowingly downloaded a fake Ledger Live application from Microsoft's app store.
The scam, named "Ledger Live Web3," lured users into thinking they were acquiring the legitimate Ledger Live user interface for storing cryptocurrency offline.
Over 38 transactions, the scammer received 16.8 BTC, worth $588,000, but approximately $115,200 was subsequently transferred out of their wallet.
The scam came to light on November 5 when cryptocurrency sleuth ZachXBT discovered it. #Microsoft may have since removed the fake app, but the incident raises concerns about the security of apps on their store.
This is not the first time a fake Ledger Live app has infiltrated Microsoft's app store. ZachXBT argued that Microsoft should be held responsible for allowing such fake apps to appear.
Ledger has cautioned users to only download its app from their official website, emphasizing the importance of security. Microsoft was reached for comment but did not respond immediately.
