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Microsoft Listing Fake Ledger App Leads to $590K of Bitcoin Stolen by Hackers

The hacker also stole $180,000 worth of assets on Ethereum and BSC.

Updated Nob 6, 2023, 4:23 p.m. Published Nob 6, 2023, 4:23 p.m. Translated by AI

Hacker steals $770,000 worth of crypto (Towfiqu Barbhuiya/Unsplash)

Hackers stole 16.8 bitcoin [BTC] over the weekend after a fake Ledger Live app was posted on the Microsoft app store.

Blockchain analyst ZachXBT said on social media platform X (formerly Twitter) that an additional $180,000 had been stolen across Ethereum and BNB Smart Chain (BSC), bringing the total to $770,000.

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On-chain data shows that the hacker received a total of 38 inbound BTC transactions spanning between Oct. 24 and Nov. 5.

The hacker then consolidated those funds before splitting them across numerous wallets in an attempt to cover the trail.

Ledger Live is an app that lets ledger hardware wallet users access and send their assets. It remains unclear how a fake app was approved by the Microsoft store.

Cryptocurrency hacks have been prevalent during the recent rise in asset prices. Last week, hackers managed to siphon $4.4 million worth of crypto from LastPass, a password storage manager that was breached in 2022

Microsoft did not immediately respond to a request for comment.

Bitcoin Hacker stolen crypto Theft Microsoft

Oliver Knight

Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.