Counterfeit Ledger App Scams Crypto Users Out of Over $760K on Microsoft App Store

According to onchain analyst Zachxbt, hackers obtained away with greater than $768,000 after sneaking a counterfeit Ledger Live utility into the Microsoft App Store. Out of the stolen stash, the assault netted over 16.8 bitcoins price $588,000.

Hackers Steal Over $760,000 in Crypto Through Fake Ledger App on Microsoft Store

A phony Ledger Live utility was added to the Microsoft App Store, in accordance with a report from onchain analyst Zachxbt on Saturday. Ledger is a cryptocurrency {hardware} pockets producer. Since the assault, Microsoft has removed the counterfeit software program from its purposes retailer.

“Community Alert: There is at the moment a pretend Ledger Live app on the official Microsoft App Store which resulted in 16.8+ BTC ($588K) stolen,” Zachxbt posted to the social media platform X.

But the theft didn’t finish there. Zachxbt reported that one other sufferer with an ETH/BSC tackle misplaced $180,000 from the pretend Ledger utility. “How is that this even attainable?” one individual asked Zachxbt. The analyst replied by saying that app corporations “don’t vet apps diligently.” An analogous occasion occurred with Trezor this 12 months when a pretend app known as “Trezor Wallet Suite” appeared within the Apple App Store (Trezor doesn’t have an iOS utility).

Ledger: ‘We Certainly Do Report It, however Only Microsoft Can Take It Down and Work on Their Side’

March 2021 noticed a devastating occasion for one particular person who fell for a counterfeit Trezor utility present in Apple’s App Store, ensuing within the lack of his whole bitcoin financial savings. The culprits made off with 17.1 bitcoins. The sufferer expressed extra fury towards Apple than the precise robbers in a statement to The Washington Post.

At the time, Apple stated, “In the restricted situations when criminals defraud our customers, we take swift motion towards these actors in addition to to forestall comparable violations sooner or later.”

Microsoft, Apple, and Google’s app shops have inadvertently permitted quite a few imposter apps masquerading as legit software program. These purposes are sometimes crafted to phish for a consumer’s seed or login particulars with the intent to hijack their funds. Vigilance is vital when verifying an app’s legitimacy; this contains scrutinizing for typos, mismatched icons or explanations, and the developer’s contact particulars.

Ledger’s assist workforce alerted the Twitter group to the counterfeit utility. “Hey Ledger customers. Beware of faux Ledger Live apps printed on the Microsoft Store. The solely secure place to obtain Ledger Live is on our web site. Ledger will NEVER ask you on your 24-word restoration phrase. Stay secure.” Ledger additional explained that the corporate additionally alerted Microsoft in addition to the group.

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