In a recent development, a fraudulent "Ledger Live Web3" app on Microsoft (NASDAQ:MSFT)'s app store has led to the theft of approximately $600,000 in Bitcoin. The scam, which began around October 24th and escalated since November 2nd, tricked users into believing they were using the legitimate Ledger Live software for offline crypto storage.
Crypto analyst ZachXBT discovered the scam and found that the fraudster had accumulated about 16.8 BTC through 38 transactions to a specific wallet. Out of this, $115,200 has already been moved, including an $81,200 transfer.
The fake app was identified on Microsoft's store as early as October 19th. Users reported their losses to ZachXBT who has since accused Microsoft of liability for allowing the counterfeit app on its platform.
This is not the first instance of such scams involving fake Ledger Live apps. Ledger, however, has not commented on this specific incident but has previously issued warnings about counterfeit apps and advises users to only download from its official site.
In spite of attempts by Cointelegraph to reach out for comments, Microsoft has not yet responded to these allegations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.