A scammer was able to pass a fake Ledger app, called Ledger Live Web3, through Microsoft Store’s checks and get it published on the store. The app was used to steal people’s Bitcoin by asking users to enter their 12-24 word recovery phrase.
A crypto investigator, @ZachXBT, reported about the fake ledger app on Twitter. At least 16.8 BTC or $588,000 were stolen by the scammer before @ZachXBT replied under the initial tweet, saying that Microsoft had removed the app.
People should remember that reputable cryptocurrency wallets or ledgers will never ask for their recovery phrase. If users download an app that is asking for it, they should not enter it in, as it can have disastrous consequences.
There have been reports online of people losing their entire life savings from this fake ledger. One Reddit user, Weak-Rice-3545, said they lost $26,500 and it included Bitcoin, Ethereum, and Solana. They also provided the address to which the scammer sent the cryptocurrency.
To protect your cryptocurrency, always be on the lookout for scammers, especially in the anonymous world of cryptocurrency. Make sure you understand how your cryptocurrency is protected and store portions of it in different wallets, as when it is stolen, there is no way to get it back.