Microsoft App Store's Fake Ledger Live App Leads To $590K Bitcoin Stolen By Hackers
Portfolio Pulse from Khyathi Dalal
A fake app named 'Ledger Live Web3' on the Microsoft Corp's App Store has led to the theft of approximately $590K in Bitcoin. The scammer received about 16.8 Bitcoin in 38 transactions using a particular wallet address. An additional $180,000 had also been stolen from the Ethereum blockchain and BNB Smart Chain, leading to a total theft of $770,000. The fake app was visible in Microsoft’s app store as early as Oct. 19 and has now been removed.
November 06, 2023 | 10:46 pm
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NEGATIVE IMPACT
The theft of Bitcoin through a fake app on Microsoft's App Store could potentially impact the overall trust in the security of Bitcoin transactions and storage.
The theft of Bitcoin through a fake app could potentially impact the overall trust in the security of Bitcoin transactions and storage, which could negatively impact the price of Bitcoin in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microsoft's App Store hosted a fake app that led to significant cryptocurrency theft. This could potentially harm the company's reputation and trust among its users.
Microsoft's App Store was used as a platform for a scam that resulted in significant cryptocurrency theft. This could potentially harm the company's reputation and trust among its users, which could negatively impact the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100