Ledger Warns Against New YouTube Phishing Scams

Share Article

Ledger, the company behind popular cryptocurrency hardware wallets like the Nano S and the Nano X, has revealed that users are facing phishing attacks that are originating from hacked YouTube accounts. The company urged users not to share their 24-word seed phrases.

Sponsored





Sponsored

Ledger has revealed that it is facing a phishing attack that is stemming from hacked YouTube accounts. Several videos have been posted under the channel names ‘Ledger’ and ‘Ledger Nano,’ urging users to sign up for a compromised web wallet that promises them free funds.

The official statement provides additional words of caution, saying that “Ledger users are continuously targeted by phishing attacks on social media, search engines and via email.”

Hardware wallets are considered to be one of the most secure methods of storing funds and are recommended for anyone holding cryptocurrencies. These wallets require physical keypresses on the device to complete transactions, but this does not seem to have stopped thieves from attempting to lure unsuspecting investors.

Phishing Still One of the Most Common Techniques

Phishing is by far one of the most popular ways attackers steal funds. Unfortunately, many are still uninformed and continue to provide sensitive information to compromised websites, under the impression that they will receive airdrops or free funds.

Anti-virus and cybersecurity firm Kaspersky reported at the peak of the market’s capitalization that phishing attacks are prevalent, and described how users could prevent falling for increasingly believable phishing attempts.

On Ledger’s part, it has asked users to install the MetaMask browser extension, which warns users when they are visiting a website that has been reported as a phishing trap.

2019 Saw a Reduction in Total Funds Stolen

Earlier this month, BeInCrypto reported that exchange hacks in 2019 had increased but the amounts stolen had reduced considerably. The total stolen in 2019 was roughly $283 million, which is a drastic drop from the $875 million stolen in 2018. Although malicious attacks have grown both in number and sophistication, phishing attacks still remain to be one of the simplest to pull off. The total amount of funds stolen in 2019 totaled roughly $283 million — a drastic drop from the $875 million stolen in 2018.

In response, cryptocurrency exchanges have poured additional resources into securing funds, and have been urged to continue to do so by cryptocurrency data firm Chainalysis in its 2020 Cyber Crime Report.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Rahul's cryptocurrency journey first began in 2014. With a postgraduate degree in finance, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has guided a number of startups to navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars.

Follow Author

Don’t get FUD! Win 1 ETH when you deposit $100 with Bybit!      

Join

FOMO no more. Win 1 BTC when you trade $100 on Bybit!      

Join

Bybit New Token Listing: Win In-Game NFTs and SIDUS Tokens.      

Win Now!