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.

Community Alert: There is currently a fake @Ledger Live app on the official @Microsoft App Store which was resulted in 16.8+ BTC ($588K) stolen

Scammer address

— ZachXBT (@zachxbt) November 5, 2023

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.

Sadly received two messages about this from victims today. Seems another person lost funds in just past few min.

— ZachXBT (@zachxbt) November 5, 2023

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.

Hey #ledger users

Beware of fake Ledger Live apps published on the Microsoft Store

The only safe place to download Ledger Live is on our website

Ledger will NEVER ask you for your 24-word recovery phrase ❌

Stay safe

— Ledger Support (@Ledger_Support) December 26, 2022

Ledger hasn’t commented on the scam but has previously iterated to users that the “only safe place” to download Ledger Live is from its website,

Cointelegraph reached out to Microsoft for comment but did not receive an immediate response.

By admin

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *