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Top Crypto Wallet Issues Crucial Warning to Community: Details
Yuri Molchan
Ledger has identified a new type of scam used to target TRX, MATIC and ETH wallets
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The Ledger Wallet team took to social media platform X to announce that they had come across a brand new type of cryptocurrency scam that cybercriminals are using to target users’ wallets. take possession of their shares.
Ledger published a thread on X to explain how this scam works and how not to fall for it.
“Scam that poisons addresses”
The new type of cryptocurrency scam that Ledger is warning about is called “address poisoning.” It happens when a user suddenly sees a mystery coin or NFT in their wallet, an asset that they didn’t put there.
When this happens, the Ledger team warns, it is very likely that you have become a target for this new type of scam attack. When a crook sends you coins, this transaction is added to your Ledger Live transaction history and it will appear that you have already sent money to that wallet in the past.
Scammers hope that the wallet owner will mistakenly copy that address from their transaction history and use it to send funds instead of a real address. However, they cannot steal any cryptocurrency from your wallet if you are careful and do not initiate a transaction yourself by signing it with your Ledger.
Guide on how to avoid problems
The main advice on how not to fall for an address poisoning scam is simple, according to the Ledger support team; means ignoring the malicious transaction and the wallet linked to it.
It is also important to avoid those suspicious tokens or NFTs sent to you by scammers. A good idea here is to select the token/NFT and then select the “Hide Token/NFT Collection” option, guides the Ledger team. This will help you avoid accidentally interacting with this scam wallet and prevent you from sending a transaction to it.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects of it. He has written for several crypto media. His articles have been cited by cryptocurrency influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.