Ledger issues cautionary notice regarding recent developments
Ledger has taken to X to expose the tactics used by scammers to target cryptocurrency users. One particular scam, known as “address poisoning,” involves scammers sending a small amount of cryptocurrency or an NFT disguised as a voucher to deceive users. The goal is to trick users into copying the scammer’s wallet address from their transaction history and sending funds to the scam account instead of a legitimate one.
Ledger clarified that these fraudulent transactions are designed to make users believe that they have sent funds to the scammer’s address in the past. However, unless users initiate a transaction to one of these addresses themselves and sign it with their Ledger, no actual value will be transferred from their account.
Scammers have been utilizing open-source software to create addresses that resemble Ledger addresses. They create addresses with similar first and last characters to trick users into sending them assets. This scam has been particularly prevalent among users of Ledger Live, a cryptocurrency wallet management tool.
To avoid falling victim to this scam, it is recommended to disregard or ignore any suspicious transactions or associated addresses. Clicking on or following a link in a malicious NFT does not pose a threat to the wallet. The only potential risks to wallets are sharing or typing out a 24-word recovery phrase or signing a malicious transaction with a Ledger device.
It is advisable to avoid engaging with unwanted tokens or addresses. Ledger suggests right-clicking on them and selecting the option to ‘hide’ the token to remove it from view.
In general, users should exercise caution when encountering malicious links in their wallets, as they could lead to scam websites attempting to deceive users into sharing sensitive information or authorizing harmful transactions.
Crypto scammers are also targeting prominent supporters of former President Trump, as reported previously.
