Ledger warns of new 'address poisoning' scam

Ledger took to x to reveal how cryptocurrency users are being targeted by a scam known as “address poisoning.”

Address poisoning is a scam where scammers 'poison' a user's wallet by sending a small amount of crypto or an nft disguised as a voucher. The objective is x.com/Ledger/status/1804101334385217937″ data-type=”link” data-id=”https://x.com/Ledger/status/1804101334385217937″ target=”_blank” rel=””>deceive users copy the scammer's wallet address from your transaction history and return the coupon. This will send funds to the fraudulent account instead of a legitimate one.

“These fictitious transactions are intended to trick you into believing that you have sent funds to your address in the past, but unless you initiate a transaction to one of these addresses on your own and sign the transaction in your Ledger, no value will be transferred. from his account,” Ledger tweeted.

Scammers have been using open source software to create addresses similar to Ledger addresses. They can create addresses with the same first four or five characters and the last four or five characters to trick users into sending them assets.

The scam has been particularly prevalent among users of Ledger Live, a crypto wallet management tool.

How to avoid the scam

If there is concern that a wallet may be compromised or a suspicious transaction is detected on an account, it is best to ignore or disregard the transaction and associated addresses.

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Clicking or following a link on a malicious nft is not enough to compromise a wallet. The only potential risks to wallets include sharing or typing a 24-word recovery phrase or signing a malicious transaction with a Ledger device.

It is best to avoid interacting with unwanted tokens or addresses. Ledger recommended users right-click and “hide” the token to remove it from view.

In general, it is best to be wary of malicious links in a wallet that could lead to fraudulent websites that attempt to trick users into sharing sensitive information or authorizing harmful transactions.