Ledger Users Targeted by New Phishing Scam

Key Takeaways

• The scam emails claim that users must activate a feature called “Ledger Clear Signing” by October 31 to continue using their Ledger devices securely
• The scam aims to deceive users into handing over sensitive account information. 

Popular hardware wallet Ledger has been hit by a phishing scam email. The scam emails claim that users must activate a feature called “Ledger Clear Signing” by October 31 to continue using their Ledger devices securely. However, these emails come from non-Ledger addresses and direct users to harmful websites.

The phishing email falsely warns users that failing to activate “Clear Signing” could compromise their security, stating, “To continue using your Ledger device securely, activating Clear Signing is mandatory starting November 1, 2024.” It goes on to claim that the feature is essential for protecting against phishing and other fraudulent activities.

These types of scams aim to deceive users into handing over sensitive account information. Phishing attacks have become a growing threat in the crypto space, where unsuspecting users can lose substantial funds by clicking malicious links or entering details on fake websites.

Despite being relatively simple, phishing attacks are becoming increasingly effective in crypto. According to Scam Sniffer, an on-chain security firm, phishing attacks in September 2024 alone resulted in losses of approximately $46 million from more than 10,000 victims.

Recently, a PEPE holder faced a loss of $1.39 million worth of cryptocurrency stolen through a ‘permit2’ phishing signature. 

Last month, 12,083 Spark Wrapped Ethereum spWETH, equal to $32 million was stolen in a phishing attack tied to Inferno Drainer, a leading DeFi scam operation.

August 2024 alone saw a sharp rise in phishing-related thefts, with a 215% increase in attacks and total losses exceeding $66 million, according to security firm Scam Sniffer. One wallet alone lost $55 million during that period. An Immunefi report revealed that in the third quarter of 2024, crypto hacks and scams amount to $413 million in losses