The post Fake Ledger Live Application Steals $588K From Microsoft Store appeared on BitcoinEthereumNews.com.

Fake Ledger Live app sneaks into Microsoft’s app store, $588K stolen The $588,000 was stolen across 38 transactions, with the largest transfer totaling $81,200. According to cryptocurrency detective ZachXBT, nearly $600,000 in Bitcoin was stolen from consumers who downloaded a bogus Ledger Live software from Microsoft’s app store. 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 addressbc1qg05gw43elzqxqnll8vs8x47ukkhudwyncxy64q pic.twitter.com/rOZ0ZWRWbn — ZachXBT (@zachxbt) November 5, 2023 On Nov. 5, an on-chain analyst discovered the scam “Ledger Live Web3,” which dupes users into thinking they’re installing “Ledger Live” — a user interface for Ledger hardware wallets to store cryptocurrency offline. According to Blockchain.com, the fraudster collected about 16.8 BTC worth $588,000 via 38 transactions using the wallet address “bc1q….y64q.” The scammer’s wallet has lost almost $115,200 in two transactions, leaving it with $473,800 or 13.5 BTC. ZachXBT mentioned in a follow-up post that Microsoft may have removed the bogus Ledger Live app from its platform. Update: Looks like Microsoft finally removed the fake Ledger Live app pic.twitter.com/LFB519Nekq — ZachXBT (@zachxbt) November 5, 2023 On October 24, a $5,210 transaction was sent to the scammer’s wallet address. The wallet had never been used before. The majority of these transfers have occurred since November 2, with the largest transfer costing $81,200 on November 4. Read Also: A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260 Bitcoinworld discovered the fake “Ledger Live Web3” application in Microsoft’s app store as early as October 19th. Fake Ledger Live Application on Microsoft Store   On November 4, ZachXBT said he got two messages from victims and even argued that Microsoft “should be held liable” for letting the fraudulent Ledger Live software to appear in its app…

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Filed under: News - @ November 6, 2023 1:12 am