Ledger Users Targeted in Sophisticated Scam Involving Fake Security Letters

Ledger, the crypto hardware wallet company, has confirmed a new wave of sophisticated phishing attacks, this time involving physical letters mailed directly to customers.

On Tuesday, crypto user Jacob Canfield sounded the alarm on X, sharing images of a fraudulent letter posing as official Ledger communication.

The letter warns of an “urgent security update” and instructs recipients to scan a QR code and enter their 24-word recovery phrase to avoid disruptions to their wallet. It also threatens restricted access if the process is not completed.

The letter also warns that failure to complete “this mandatory validation process” may result in restricted access to the user’s wallet and funds.

In reality, the QR code leads to a phishing site. Once the recovery phrase is entered, attackers gain full access to the wallet and can drain all assets remotely.

“Scammers impersonating Ledger and Ledger representatives are unfortunately common,” the official Ledger X account commented.

“Always remember: Ledger will never call, DM, or ask for your 24-word recovery phrase. If someone does, it’s a scam. Stay cautious and keep your crypto safe.”

The company also warned users not to interact with anyone claiming to be a Ledger employee or offering help recovering stolen funds.

Old Data Leak, New Tactics

Canfield believes the attackers used personal data from a previous breach. In 2020, Ledger disclosed a major data leak that exposed the emails, physical addresses, and phone numbers of over 273,000 customers. That information was later posted to a public hacking forum.

In 2021, some users reported  receiving fake Ledger devices that were rigged to install malware if plugged into a computer.

Why This Matters

Crypto scams , designed to steal sensitive information and gain access to digital assets, are increasingly using more personalized tactics and remain a serious threat to crypto users.

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