Representation of cryptocurrency and representation of Ethereum cryptocurrency are seen in this illustration photo. A fake app named, “Ledger Live Web3” on the Microsoft Corp App Store led users to assume that they were installing the actual Ledger Live interface for offline cryptocurrency storage. JAKUB PORZYCKI/NUR PHOTO VIA GETTY IMAGES.
Over the weekend, after a fake Ledger Live software was uploaded to the Microsoft app store, hackers stole 16.8 bitcoin.
Ledger Live is an app that allows ledger hardware wallet users to access and send their assets. A fake app named, “Ledger Live Web3” on the Microsoft Corp App Store led users to assume that they were installing the actual Ledger Live interface for offline cryptocurrency storage.
“The scammer received about 16.8 Bitcoin, or $588,000, in 38 transactions using a particular wallet address,” said cryptocurrency detective ZachXBT.
Around $115,200 has been removed from the scammer’s wallet in two transactions, leaving a balance of $473,800 or 13.5 BTC.
The initial transaction happened on Oct. 24 for $5,210 BTC. The transactions have been occurring since Nov. 2, including the largest transfer of $81,200 on Nov. 4.
“An additional $180,000 had also been stolen from the Ethereum blockchain and BNB Smart Chain (BSC), leading to a total theft of $770,000,” said ZachXBT on social media platform X (formerly Twitter).
In an effort to hide the trail, the hacker then consolidated the money before dividing them among several wallets.
This news comes on the heels of Zenger News’s Future Of Digital Assets Event in New York scheduled on Nov.14. Attend and learn more about how fake apps and scams are making their way into customers’ accounts and stealing funds. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.
Background
The fake Ledger Live Web3 application was visible in Microsoft’s app store as early as Oct. 19 and has now been removed, Cointelegraph reported.
This is not the first time a fake app managed to sneak not Microsoft’s app store. In December and March, Ledger’s support account informed its users about a fake Ledger Live app.
Hacks involving cryptocurrencies have become common throughout the recent increase in asset values.
Meanwhile, last week saw a crypto thief stealing $4.4 million worth of crypto in a single day as the toll from the LastPass breach continued to escalate. LastPass, a cloud-based storage service, is a platform that stores and encrypts password information for users.
© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.
Produced in association with Benzinga
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