Ledger Users Targeted in Sophisticated Scam Involving Fake Security Letters
Ledger, the crypto hardware wallet company, has confirmed a new wave of sophisticated phishing attacks, this time involving physical letters mailed directly to customers.
On Tuesday, crypto user Jacob Canfield sounded the alarm on X, sharing images of a fraudulent letter posing as official Ledger communication.
The letter warns of an “urgent security update” and instructs recipients to scan a QR code and enter their 24-word recovery phrase to avoid disruptions to their wallet. It also threatens restricted access if the process is not completed.
Sponsored
The letter also warns that failure to complete “this mandatory validation process” may result in restricted access to the user’s wallet and funds.
In reality, the QR code leads to a phishing site. Once the recovery phrase is entered, attackers gain full access to the wallet and can drain all assets remotely.
“Scammers impersonating Ledger and Ledger representatives are unfortunately common,” the official Ledger X account commented.
“Always remember: Ledger will never call, DM, or ask for your 24-word recovery phrase. If someone does, it’s a scam. Stay cautious and keep your crypto safe.”
The company also warned users not to interact with anyone claiming to be a Ledger employee or offering help recovering stolen funds.
Old Data Leak, New Tactics
Canfield believes the attackers used personal data from a previous breach. In 2020, Ledger disclosed a major data leak that exposed the emails, physical addresses, and phone numbers of over 273,000 customers. That information was later posted to a public hacking forum.
In 2021, some users reported receiving fake Ledger devices that were rigged to install malware if plugged into a computer.
Why This Matters
Crypto scams , designed to steal sensitive information and gain access to digital assets, are increasingly using more personalized tactics and remain a serious threat to crypto users.
Check out DailyCoin’s trending crypto stories:
Trump Crypto Team’s $20M Sell-Off Sends Memecoin Price Crumbling
XRP To Replace SWIFT? Ripple CEO Uncovers a $155T Opportunity
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Malaysia Blockchain Infrastructure (MBI) to integrate with Ethereum and Solana by 2027
3.7M Crypto Tokens Dead Since 2021, Half Vanished After Pump.fun Era
Since 2021, millions of crypto tokens have failed, with a staggering number of these collapses occurring recently. According to fresh data from the crypto analytics platform GeckoTerminal, nearly half of all token failures—1.8 million—occurred in just the first quarter of 2025. In 2024, another 1.4 million tokens were abandoned, accounting for 37.7% of total failures since 2021. Combined, these two periods represent the vast majority of token wipeouts in the crypto market.
Plaza Finance Launches Programmable Tokens bondETH and levETH on Base
Plaza Finance has launched the first programmable derivative tokens on Base, introducing bondETH and levETH, a new class of on-chain financial instruments designed to offer innovative Ethereum investment strategies in the DeFi space.
US Senate Eyes Stablecoin Bill Ahead of Memorial Day Amid Trump Conflict Concerns
According to reports citing Senate Majority Leader John Thune, the U.S. Senate is preparing to take up stablecoin legislation before the Memorial Day recess on May 26.
Trending news
MoreCrypto prices
More
