Ledger Live

Ledger Live Description

Since the boom of cryptocurrencies, there have been various tools and applications that have emerged to help users with managing their funds. Among them are ledger wallets. Ledger wallets serve to aid users in managing the private keys of their cryptocurrency wallets. To ensure maximum safety, users need to have separate passwords for each of their cryptocurrency wallets. This can make it rather difficult to remember and store all the credentials needed for managing cryptocurrency funds, and this is why ledger wallets exist.

Ledger is a hardware tool that helps users manage their cryptocurrency funds credentials. Users who have a Ledger wallet tool use it with the help of the Ledger Live application, which is compatible with desktop computers, as well as mobile devices. However, seeing the success of the Ledger tool, cybercriminals have developed a tactic, which may allow them to access the cryptocurrency funds of Ledger users. The cyber crooks in question have built a fake Web browser extension that promotes itself as a tool associated with the Ledger service. The attackers have made sure to use the same logo and font to make this bogus Web browser add-on look legitimate. It is fundamental to note that the fake Web browser extension in question is not affiliated in any way with the developers of the legitimate Ledger service. The fraudulent Web browser extension claims to help users store their private keys securely. Unfortunately, this is not the case certainly, as the goal of the creators of the fake Ledger Live add-on is to collect the 'seed phrase' of their users. This means that users who provide the bogus extension with their credentials might have their cryptocurrency funds gathered from them.

The creators of the fraudulent Ledger Live add-on appear to be promoting it via Google Ads. The cyber crooks have made sure that users who search for 'ledger live' will get to see their threatening creation among the top results. Thankfully, the fake Ledger Live Web browser extension is not very popular. According to the data from the Google Chrome Store page, this bogus add-on has only been downloaded 120 times approximately. However, it is worrying that the operators of the Chrome Store have not yet removed this unsafe Web browser extension from their platform.

When it comes to managing your funds, you have to be extra careful about what tools and applications you trust. There are countless cybercriminals who want to take advantage of misguided or naïve users, so make sure you double-check every service and product you use.