Ledger Warns of Scam Targeting User Seed Phrases
- Physical letters sent to Ledger users requesting recovery phrases.
- Ledger confirms scam campaign involving deceptive letters.
- Scam letters could lead to total access to crypto holdings.
Scammers Use Physical Mail to Target Ledger Users
Scammers have begun using physical letters to impersonate Ledger, asking users for their 24-word recovery phrases. The letters warn of wallet restrictions, causing alarm among users.
Jacob Canfield, a crypto trader, highlighted the scam. Ledger confirmed the deceptive event, stating they never request recovery phrases. The campaign exploits trust in legitimate-looking communications.
Community Concerns Over Crypto Asset Safety Intensify
Users face potential loss of their crypto assets. The scam’s reach remains uncertain, but it has caused considerable concern within the cryptocurrency community.
Financial impacts could be broad yet are currently unquantified. The scam underscores vulnerabilities stemming from the previous Ledger data breach, raising questions about ongoing customer protection.
Evolution of Phishing: From Digital to Physical
The tactic of using physical mail is a new kind of phishing in crypto, evolving from online scams. The July 2020 breach is linked due to leaked information.
Despite the new approach, the tactics remain familiar, potentially leading to severe financial repercussions if seed phrases are disclosed. Security vigilance is paramount, according to industry experts. “Scammers impersonating Ledger and Ledger representatives are unfortunately common. Always remember: Ledger will never call, DM, or ask for your 24-word recovery phrase. If someone does, it’s a scam.” – Ledger’s Official Statement
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