DeFI News by Thebittimes.Com

Ledger confirmed today that a letter claiming to be from the crypto wallet’s security team is a scam, and warned users to ignore it and keep their crypto wallet recovery phrases to themselves. The company was responding to crypto trader Jacob Canfield, who shared the scam letter on X yesterday. Canfield claims the scammers are “sending physical letters to the @Ledger addresses database leak requesting an ‘upgrade’ due to a security risk.”  It claims to be from Ledger’s “Security and Compliance” and asks users to give up their recovery phrase in response to a “ critical security update .”  “Failure to complete this mandatory validation process may result in restricted access to your wallet and funds,” the scam document reads.  Breaking: New scam meta launched. Now they’re sending physical letters to the @Ledger addresses database leak requesting an ‘upgrade’ due to a security risk. Be very cautious and warn any friends or family that you know is in crypto and is n...

Since late November, Angel Drainer, the tool used in the Ledger hack, has been leveraging a smart contract to modify static file domains . Angel Drainer, in essence, is a type of malicious software, or malware, that specializes in draining cryptocurrency assets from wallets. Etherscan data shows that the tool has been used since last month to update five static file domains to redirect users to compromised versions of software or web pages, thereby enabling unauthorized access to their crypto assets.  There are some more traces of #AngelDrainer.https://t.co/GzBnKwgoiy — SlowMist (@SlowMist_Team) December 15, 2023 You might also like: Network traffic surge stalls Arbitrum One Yesterday’s Ledger Connect Kit hack led to a loss of approximately $484,000 to over $600,000. The malicious file remained active for approximately five hours, although the window for fund drainage was less than two hours. Ledger pushed out a genuine software update shortly after to replace the ...