Scam App Steals $600,000 in Bitcoin from Users via Microsoft’s App Store
Summary:
Nearly $600,000 in Bitcoin was stolen by a scam app imitating Ledger Live on Microsoft's app store, according to cryptocurrency expert ZachXBT. The fraudulent app, named “Ledger Live Web3,” was first spotted on November 5. The scam, which involved 38 transactions, reportedly left the scammer with roughly $473,800 or 13.5 BTC. ZachXBT suggested Microsoft should accept responsibility for allowing the deceptive app in its store. This incident marks yet another instance when a fake Ledger Live app infiltrated Microsoft’s app store.
Bitcoin users have reportedly lost nearly $600,000 due to a fake app masquerading as Ledger Live on Microsoft’s app store, as uncovered by cryptocurrency expert ZachXBT. The deceptive application named “Ledger Live Web3” was first flagged on November 5 and is misleading users into believing it is the genuine “Ledger Live,” an offline cryptocurrency storage platform for Ledger hardware wallets. So far, the fraudster has collected nearly 16.8 BTC, equivalent to around $588,000, over 38 transactions using the wallet address "bc1q….y64q," as shown on Blockchain.com. About $115,200 has been withdrawn from the scammer’s wallet, leaving approximately $473,800 or 13.5 BTC.
The fraudulent activity was first detected when the scammer’s wallet address received a transaction of $5,210 on October 24. This wallet had remained inactive until then. Most transactions, including the maximum transfer of $81,200, were recorded since November 2. The counterfeit application “Ledger Live Web3” was first listed on Microsoft’s app store as early as October 19, as discovered by Cointelegraph. ZachXBT also reported having obtained two messages from victims on November 4, arguing that Microsoft should take responsibility for allowing the bogus Ledger Live to be listed on its app store.
It's not the first instance when Microsoft’s app store has allowed a false Ledger Live application. Ledger’s support account on X (formerly known as Twitter) had earlier warned its users about a fake Ledger Live app listed on the Microsoft Store in December and March. Ledger has not yet commented on the recent scam but reaffirmed that Ledger Live can only be safely downloaded from its official website, ledger.com. Despite contacting Microsoft for remarks, Cointelegraph is yet to receive a response.
Published At
11/5/2023 4:10:36 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.