In a recent development, a fraudulent “Ledger Live Web3” application on the Microsoft (NASDAQ:MSFT) App Store has resulted in the theft of approximately $600,000 in bitcoin. The scam, which began around October 24 and escalated since November 2, 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 approximately 16.8 BTC through 38 transactions into a specific wallet. Of this amount, $115,200 has already been moved, including a transfer of $81,200.
The fake app was identified in Microsoft’s store as early as October 19. Users reported their losses to ZachXBT, which has since sued Microsoft for allowing the fake app on its platform.
This is not the first instance of such scams involving fake Ledger Live apps. Ledger has not commented on this specific incident, but has previously issued warnings about counterfeit apps and advises users to only download from its official website.
Despite Cointelegraph’s attempts to contact Microsoft for comment, the company has yet to respond to these allegations.
