Some scammers and hackers are taking advantage of famous names in the crypto world for the purpose of using them in fraudulent products that steal users’ cryptocurrencies.

Among the products targeted was the Ledger portfolio.

Where hackers have developed an extension called “Ledger Live Chrome” that steals private keys for cryptocurrency.

According to source 1.4 Million XRP has already been stolen by this add-on.

The fake extension managed to many users:

Yesterday, the xrplorer account posted a warning tweet informing that more than 200,000 XRP coins were stolen in the last month.

This is due to a fake “Chrome Ledger Live” add-on that steals the backup phrases of its victims to get their cryptocurrency.

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She warned that accounts would be hacked and stolen, and the tweet came as follows:

The “Ledger Live” extension is used on Google Chrome and it is a fake extension, its goal is to collect backup passphrases.

They are advertised on Google and Google Docs are used to collect data.

Accounts are emptied, we have seen more than 200,000 XRP stolen last month alone.

The xrplorer platform only had data about XRP, but the warning includes all other cryptocurrencies.

As the xrplorer account indicated, the following:

We do not have numbers about other currencies.

But never download tools for your hardware wallet from places other than just the official source.

According to the findings of the analysis, most of the stolen XRP is still kept in the thief’s account.

Some of it was recently sold on the HitBTC platform.

The trading platform has been notified, but has so far failed to officially respond to the problem.

Always follow best practices:

The caveat here is general and is not just for XRP holders or Ledger users.

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Rather, it is a general wake-up call in the perilous crypto space.

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With $4.5 billion worth of cryptocurrency stolen in 2019 alone, online best practices should always be followed.

This means not clicking on external links that come through emails to access your wallet or trading account links on cryptocurrency exchanges.

You should also download any add-on only from its official source and you must be 100% sure of it.

Also, it is better to save the website address of the trading platform in your browser’s favorites list so that you do not fall victim to fake domains.

There are a lot of bad guys and scammers in the cryptocurrency space who are looking to steal your money.

Don’t be a victim of them.

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