Ledger Live

Ledger wallets are a relatively new piece of hardware that first appeared when the popularity of cryptocurrencies surged. Ledger wallets are meant to provide their users with the ability to and store the private keys and other data they may need to access their various cryptocurrency accounts and profiles conveniently and safely. Often, these ledgers support multiple cryptocurrencies and platforms, and they make use of extra layers of security that are meant to protect their users from phishing attacks or other harmful activities.

This Bogus Wallet Management Add-On may Try to Collect Your Cryptocurrency

Ledger, one of the most popular hardware wallet solutions, also offers its users the ability to use the 'Ledger Live' application to manage their funds through trustworthy devices. The application in question is available for both desktop and mobile. However, it seems that cybercriminals are targeting Ledger users by trying to trick them into installing a browser extension that supposedly serves the same purpose. The add-on is called 'Ledger Live,' and it uses the branding and logos of Ledger, but it is not in any way affiliated with the legitimate company. In fact, the Ledger Live browser add-on was created by con artists, and it cannot provide you with the ability to manage your wallets – instead, it will attempt to collect your 'seed phrase.' The 'seed phrase' consists of 24 words, and it is required to access and use Ledger's wallet recovery feature – this means that if evil-minded actors get access to it, they might be able to access all of your cryptocurrency accounts linked to Ledger.

The good news is that the bogus Ledger Live add-on has not been downloaded many times – its official Chrome Store page is still up, and it shows that 120 users, approximately, have installed this extension. Hopefully, the majority of them have not provided the bogus program with their unique seed phrase.

The Crooks behind the Fake 'Ledger Live' Add-On Advertise It via Google Advertisements

Another interesting thing about the Ledger Live add-on is that its authors have decided to promote it via targeted Google Ads – searching for the keyword 'ledger live' may show the bogus add-on on top of all other results. Of course, this is unlikely to go on for long, and Google should remove the corrupted advertisement and the download page in a matter of hours.

Falling for the phishing attempt of the fake Ledger Live extension may be a very costly mistake, and we advise all cryptocurrency users to be extra careful when dealing with add-ons and programs that may gain access to their wallets – it is important to fetch such software from official sources, and always make sure that you are using a credible product.