$588K Scam by Fake App on Microsoft App Store

Fake App Scam on Microsoft App Store: $588K Stolen

Ledger Live, a fake app on Microsoft's App Store, has scammed users out of nearly $600,000 in Bitcoin. This fake version of Ledger live app first tricked and then misled users into believing that they were downloading Ledger Live. It is a software for managing Ledger hardware wallets for secure cryptocurrency storage. According to the report, scammers had obtained Bitcoin worth $588,000 with 38 transactions using a specific wallet address. But after this stir, Microsoft has removed this fake app from its platform. On-chain analysts reported scams occurring on Ledger Live Web3 on November 5.

Users held Microsoft responsible for this scam

In this scam, the first transaction sent to the scammers' wallet was $5,210 on October 24. The wallet had not been used since then. But the majority of subsequent transactions have occurred since November 2. They included the largest transfer totaling $81,200 on November 4. After this scam, on November 4, two messages were received from users who were victims of this scam. In the messages, they argued that Microsoft should be accountable for allowing the fake Ledger Live app to be shown in its App Store, which further leads to Users should not fall victim to such scams.

This Is Not The First Time!

This is not the first time that a fake Ledger Live app has made its way to Microsoft's App Store. Earlier, users were informed about the fake Ledger Live app on different occasions in December last year and March 2023. A warning was also issued for it. At present, Ledger has not commented on this scam. Ledger recommends to its users that the only safe place to download Ledger Live is from its website Ledger.com. This fake app scam on Microsoft app store is surely a warning. It has been said that before joining such fake scams and fake websites, do proper research so that such scams can be avoided.

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