Scam Letters Target Seed Phrases: Protect Your Crypto Identity

Fraudsters are sending physical letters to the owners of Ledger cryptocurrency hardware wallets, requesting them to verify their private seed phrases with the intention of gaining access to these wallets and draining them.

On April 29, Jacob Canfield posted on X, where he discussed technological insights. shared a scam letter sent to his home through the mail, which seemed to come from Ledger and stated he urgently needed to carry out a "critical security upgrade" on his device.

The message, utilizing Ledger’s logo, business address, and a reference number to appear authentic, prompts you to scan a QR code and input the wallet’s private key. recovery phrase Under the pretense of testing the apparatus.

The letter warns that “not completing this required verification process might lead to limited access to your wallet and funds.”

A seed phrase, or recovery phrase, is a string of up to 24 words that unlocks access to a crypto wallet. A scammer with the phrase can access and control the associated wallet to transfer its holdings elsewhere.

Earlier this month, the X profile of a cryptocurrency hardware wallet seller was targeted. said It had similarly received numerous reports of Ledger users getting an identical letter.

Following Canfield’s posting, Ledger said The message is fraudulent, and they warned its device users to remain cautious. phishing attempts .

Related: Ledger wallet user reports losing 10 bitcoins — Community points fingers at phishing

" Ledger will never make a phone call, send a direct message, or request your 24-word recovery phrase. If anyone does so, it’s a scam," the statement read.

Please avoid interacting with profiles stating they are Ledger employees or anybody who claims to assist in recovering funds.

It is unclear whether this is related to the Ledger’s data breach.

Canfield indicated that fraudsters might be mailing letters to Ledger clients whose information had been exposed almost half a decade earlier.

In July 2020, a cybercriminal breached Ledger’s database and made public the private data of over 270,000 of its clients online, encompassing details such as their names, telephone numbers, and residential addresses.

In the subsequent year, multiple Ledger users reported receiving mailings as mentioned. fake Ledger devices Those were altered to insert malware when utilized, as reported by Bleeping Computer. reported at the time.

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