Shockingly, cryptocurrency users fell victim to a sneaky scam and nearly $600,000 worth of Bitcoin (BTC) was stolen. On the other hand, Monero’s (XMR) community crowdfunding system CCS Wallet fell victim to an attack and some XMR was stolen. Here are the details…
Bitcoin stolen with fake Ledger application
Cryptocurrency detective ZachXBT has uncovered a crafty scam that cost unsuspecting users almost $600,000 in Bitcoin. The scam revolves around a fake app called “Ledger Live Web3” that masquerades as the legitimate “Ledger Live” app used as a user interface for Ledger hardware wallets to securely store cryptocurrency offline. Approximately 16.8 BTC worth $588,000 was defrauded from users who unknowingly downloaded the fake app. The fraudster, operating under the wallet address “bc1q….y64q”, obtained these ill-gotten gains through 38 transactions. However, a total of $115,200 has already left the scammer’s wallet, leaving them with $473,800 or 13.5 BTC.
ZachXBT reported that Microsoft may have removed the fake Ledger Live app from its platform. The first payment to the scammer’s wallet occurred on October 24 in the amount of $5,210, before which the wallet remained dormant. Most of the fraudulent transactions have occurred since November 2. The largest single transfer totaled $81,200 on November 4. Further investigation revealed that the fake “Ledger Live Web3” app was available on Microsoft’s app store as early as October 19. Concerned victims reached out to ZachXBT to express their grievances and even suggested that Microsoft should be held accountable for allowing the fake app to infiltrate its store.
A fake Ledger application has emerged before
This isn’t the first time a fake Ledger Live app has appeared on Microsoft’s app store. Ledger’s support account on Twitter previously warned users about a fake Ledger Live app on two separate occasions in December and March. However, Ledger advised its users to download Ledger Live only from their official website, ledger.com.
Monero’s CCS wallet was hacked
In a parallel development, the Monero community was surprised by the revelation of an event that took place on September 1, 2023. On September 1, 2023, it was revealed that the community crowdfunding system (CCS) Wallet was targeted. The attackers successfully looted the entire balance of 2,675.73 XMR, which is approximately $384,000. As of now, the source of the vulnerability that made this theft possible has not been disclosed. SlowMist, a leading Blockchain security firm, investigated the situation and expressed its belief that the breach should not be attributed to a flaw in Monero’s robust privacy model.
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