Almost $600,000 in Bitcoin (BTC) has been stolen from users who downloaded a fake Ledger Live application on Microsoft’s app store, according to cryptocurrency sleuth ZachXBT.

The on-chain analyst spotted the scam, “Ledger Live Web3,” on Nov. 5, which is tricking users into thinking that they’re downloading “Ledger Live” — a user interface for Ledger hardware wallets to store cryptocurrency offline.

Approximately 16.8 BTC worth $588,000 has been received by the scammer across 38 transactions using the wallet address “bc1q….y64q,” according to Blockchain.com. About $115,200 has left the scammer’s wallet across two transactions, leaving it with $473,800 or 13.5 BTC.

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

In a follow-up post, ZachXBT noted that Microsoft may have removed the fake Ledger Live app from its platform.

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

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

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Author: Brayden Lindrea

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