Hackers Exploit Fake Ledger Live Application to Steal Cryptocurrency

BlockBeats News, May 23rd, Network security company Moonlock issued a warning stating that hackers are conducting attacks through distributing a malicious clone version disguised as Ledger Live. Ledger Live is a widely used application for managing Ledger hardware wallets.

Initially, the attackers could only steal passwords, memos, and wallet information through this clone app, thereby gaining a rough understanding of the user's wallet assets, but they could not directly withdraw funds. However, in just one year, they have learned to steal mnemonic phrases and are able to loot victims' wallets.