QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
UNKNOWN
MAY 2020
GLOBAL
LEDGER
DESCRIPTION OF EVENTS
"Based in France, Ledger is the largest cryptocurrency hardware wallet company." "Ledger is a hardware cryptocurrency wallet that is used to store, manage, and sell cryptocurrency. The funds held in these wallets are secured using a 24-word recovery phrase and an optional secret passphrase that only the owner knows."
"Ledger offers two products, the Nano S and Nano X, that can store the digital keys used to secure crypto wallets. The devices can be used with a variety of cryptocurrencies, are compatible with numerous apps, and are supposed to offer a safe way to manage crypto without compromising too much on convenience. Ledger says on its website that it has sold 1.5 million products to customers in 165 countries to date."
"We noticed there are fake #Ledger Live apps on Google Play that try to trick users into entering their Recovery Phrase. NEVER share your 24 words. NEVER enter your 24 words into a computer/smartphone. ALWAYS get Ledger Live from ledger.com." "The real Ledger Live app for Android currently has low ratings. It seems it may have been targeted by bots. We're looking into it."
A fake Ledger Live application was launched on Google Play in May 2020. At the same time, the attackers created a large number of fake reviews with a low rating on the legitimate Ledger Live application. This created a situation where it was easy to fool users into downloading the wrong application, which would request their seed phrase to compromise their funds. It's unclear how many users were affected and whether any funds were recovered.
@ledger_support Twitter (Mar 18)
Ledger Live - https://play.google.com/store/apps/details?id=io.trezor.app (Mar 23)
Ledger Raises $380 Million to Expand DeFi Solutions - Crypto Briefing (Mar 19)
Physical addresses of 270K Ledger owners leaked on hacker forum - BleepingComputer (Jan 31)
Scammers Are Using Fake Devices to Steal Cryptocurrency Wallets | PCMag (Mar 6)
