Connect with us

Hi, what are you looking for?

Data breach
Data breach

Cryptocurrency

Beware of the New Ledger Phishing Scam that Targets Wallet Keys

Scammers are mimicking Ledger support emails to deceive customers into disclosing their wallet seed phrases, potentially granting them complete access to cash. Learn how to identify and avoid phishing attempts.

A new phishing scheme targets Ledger users by mimicking their support team. These bogus emails say that Ledger has suffered a data breach and urge recipients to confirm their recovery phrases to “safeguard” their funds.

Despite appearing to originate from Ledger’s official support email address, an email marketing platform delivers the fraudulent emails. The phony Ledger-branded website appears real to the victims. On this website, users are required to enter their seed phrases in order to authenticate their wallets. However, submitting this information grants criminals full access to the wallet, allowing them to steal funds.

Ledger has restated its security principles, assuring users that they would never request recovery phrases via email, direct message, or phone. They advise consumers to exercise caution and report any strange correspondence.

This incident is comparable to previous frauds, including a recent one in which a user lost $2.5 million in Bitcoin and non-fungible tokens (NFTs) as a result of a phishing attempt. The current scam’s impact remains unclear, but as online transactions increase during the holiday season, we anticipate an increase in phishing attempts.

To be safe, constantly check the source of emails and never exchange recovery phrases online. Keep your wallet information confidential, and report any suspicious behavior to the appropriate authorities.

author avatar
Satpal S
Satpal is an Editor and Author at 4C Media Co, specializing in all stories and news related to crypto and finance.
Advertisement

You May Also Like

Cryptocurrency

Though European banks are unable to keep up with the demand, the crypto market is attracting more attention these days. Though consumer and business...

Cryptocurrency

In a significant turn for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is no longer moving forward with its inquiry into...

Cryptocurrency

A court has tentatively lifted the three-month ban on Upbit, the largest digital asset exchange in South Korea, marking a significant development for the...

Cryptocurrency

Paul Atkins, the nominee for SEC Chair, came under fire during a fraught Senate Banking Committee hearing for his ties to the crypto business...

polkadot
Polkadot (DOT) $ 4.03 0.35%
bitcoin
Bitcoin (BTC) $ 83,367.34 0.78%
ethereum
Ethereum (ETH) $ 1,824.18 1.85%
cardano
Cardano (ADA) $ 0.650834 2.26%
xrp
XRP (XRP) $ 2.06 0.64%
stellar
Stellar (XLM) $ 0.26291 1.00%
litecoin
Litecoin (LTC) $ 83.65 2.57%