Fake Ledger App on Microsoft Store: Hackers Steal $590K in Bitcoin

Over the weekend, a cybercriminal made off with $180,000 worth of assets on both the Ethereum and Binance Smart Chain (BSC) platforms. This theft occurred in addition to the 16.8 bitcoins (BTC) taken after a fraudulent Ledger Live application was uploaded to the Microsoft app store.

According to blockchain analyst ZachXBT, who shared the information on the social media platform X (previously known as Twitter), the total haul for the hacker amounted to $770,000.

Community Alert: There is currently a fake @Ledger Live app on the official @Microsoft App Store which was resulted in 16.8+ BTC ($588K) stolen

Scammer address
bc1qg05gw43elzqxqnll8vs8x47ukkhudwyncxy64q pic.twitter.com/rOZ0ZWRWbn

— ZachXBT (@zachxbt) November 5, 2023

On-chain data reveals that the hacker received a total of 38 incoming BTC transactions, spanning from October 24th to November 5th. Subsequently, the ill-gotten gains were consolidated and distributed across numerous wallets in an attempt to obscure the digital trail.

Ledger Live is a legitimate application that allows users of Ledger hardware wallets to manage and send their cryptocurrency holdings. The approval process that allowed a counterfeit version to be listed on the Microsoft store remains unclear.

This incident is part of a larger trend of cryptocurrency hacks that have surged alongside the recent surge in asset prices. Just last week, hackers were able to pilfer $4.4 million in crypto from LastPass, a password storage management service that had experienced a security breach in 2022.

As of now, Microsoft has not yet issued a response to requests for comment regarding this incident.

Read More: Protecting Your Investments: How to Avoid Falling Victim to Crypto Scams