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- Stated by the Director of Security at the MyCrypto Harry Denley, this Chrome extension is targeting owners of Ledger cryptocurrency wallets.
- This malicious extension was trying to cheat the users by making them consider it as the original version of the Ledger Live app.
- The fraud extension commands the users to install the extension and connect their Ledger wallet to it by using the “seed phrase.”
Today a chrome extension named Ledger Live was found malicious. Stated by the Director of Security at the MyCrypto Harry Denley, this Chrome extension is targeting owners of Ledger cryptocurrency wallets.
How malicious Leger Live affect its users?
Ledger wallets are basically small hardware devices used to store passwords required to access crypto accounts. These wallets endorse multiple cryptocurrency formats that help the users to store the private passwords for their cryptocurrency in a single platform.
These passwords are store in an offline format that is safe from phishing attempts and web-based attacks. While using the Ledger wallet by the user, it should mean that the user is not at any risk but it fails in that.
Denley exposed that the spiteful Ledger Live is trying to pass as the actual Ledger Live mobile and desktop app that lets the users query their funds and approve the transactions by synchronizing their hardware wallet with a trusted device.
This malicious extension was trying to cheat the users by making them consider it as the original version of the Ledger Live app. This also made them check their balances and approve transactions by using the Chrome browser.
The fraud extension commands the users to install the extension and connect their Ledger wallet to it by using the “seed phrase.” A seed phrase is used to recover Bitcoin funds on-chain. It is a set of words that stores all the information needed to recover funds.
But the extension is a fraud and works nothing except showing a popup.
About Ledger Live
Ledger Live is a user-friendly app that is available in Mac, Windows, and Linux. It is used for the users of the Ledger Nano S hardware wallet. This app permits users to manage their cryptocurrency hardware and assets.
