Nov 05, 2023

Fake Ledger Live App Scams Microsoft’s App Store Out of $588K

Microsoft’s App Store Scam Cryptocurrency sleuth ZachXBT has reported that users who downloaded a fake Ledger Live application on Microsoft’s app store have had almost $600,000 in Bitcoin (BTC) stolen. The app, named “Ledger Live Web3”, was deceiving users into thinking it was the genuine Ledger Live user interface for hardware wallets. According to Blockchain.com,…

Microsoft App Store victim of $588K Crypto Scam via AI Fake Ledger Live App
Fake Ledger Live app sneaks into Microsoft’s app store, $588K stolen

Microsoft’s App Store Scam

Cryptocurrency sleuth ZachXBT has reported that users who downloaded a fake Ledger Live application on Microsoft’s app store have had almost $600,000 in Bitcoin (BTC) stolen. The app, named “Ledger Live Web3”, was deceiving users into thinking it was the genuine Ledger Live user interface for hardware wallets.

According to Blockchain.com, 38 transactions have been made to the scammer’s wallet address, “bc1q….y64q”, adding up to 16.8 BTC worth $588,000. Around $115,200 has left the wallet, leaving the scammer with $473,800 or 13.5 BTC.

ZachXBT also noted that Microsoft may have removed the fake Ledger Live app from its platform, as part of their AI chatbot and Twitter Crypto initiatives, as well as their Web3 or Web 3.0 search engine and Apple Health application.

Fake Ledger Live App in Microsoft’s App Store

The first transaction sent to the scammer’s wallet address happened on Oct. 24, worth $5,210. Before that, the wallet hadn’t been used. Most of the transactions took place since Nov. 2, with the largest transfer totaling $81,200 on Nov. 4.

A search by Cointelegraph found the fake “Ledger Live Web3” application in Microsoft’s app store as early as Oct. 19.

ZachXBT received two messages from victims on Nov. 4 and argued that Microsoft “should be held liable” for allowing the fake Ledger Live app to appear in its app store. This is not the first time a fake Ledger Live app has made its way into Microsoft’s app store, as the Apple Health application is a Web3 application.

Microsoft AI, Twitter Crypto, and Web 3.0

In December and March, Ledger’s support account on X (formerly Twitter) warned users about a fraudulent Ledger Live app. Ledger has not commented on the scam, but has previously advised users to only download Ledger Live from its official website, ledger.com.

Cointelegraph contacted Microsoft for comment, but did not receive an immediate response.

AI technology has made it easier for scammers to create fake apps, and the prevalence of crypto scams on Twitter has become increasingly common. Web 3.0 is the next generation of the Internet, and its search engine capabilities are capable of detecting these types of scams. The Apple Health application is an example of a Web 3.0 application.

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