Ledger Discord Phishing Scam Targets Crypto Recovery Phrases – Coincu

On May 11, 2025, Ledger’s Discord server was compromised by a hacker exploiting a moderator’s account, leading to a potentially harmful phishing scam.

Immediate industry scrutiny and user caution have ensued after the incident, highlighting ongoing security challenges in crypto platforms.

Ledger Discord Phishing Scam Targets Crypto Recovery Phrases

The breach on May 11-12 affected Ledger when a moderator’s account was hijacked by a hacker. They used this access to post phishing links aiming at collecting users’ 24-word recovery phrases. The malicious attack was executed through a fake security alert about a vulnerability that did not exist. Ledger’s response ensured that the compromised account was swiftly removed, and the phishing bot deleted. Internal permissions were scrutinized for enhanced security measures.

Users face heightened risks due to this incident. With recovery phrases being central to crypto ownership, the attack aimed at exploiting these sensitive assets. Ledger’s rapid mitigation efforts included removing the malicious bot and reporting the phishing website. However, this event underscores the persistent threats posed by social engineering tactics.

“The compromised moderator account was removed, the malicious bot was deleted, and the phishing website was reported.” – Quintin Boatwright, Team Member, Ledger

Community response was immediate, with concerns raised over how the breach was managed. While no verified losses have been reported, the scenario underlines the susceptibility of communication channels in crypto platforms. Community members noted that the hacker used moderator powers to suppress user alerts, potentially delaying Ledger’s awareness.

Phishing Threats Mirror Prior Crypto Security Breaches

Did you know? Phishing scams are not unfamiliar in the crypto world; in May 2019, Binance suffered a $40 million loss due to a sophisticated phishing attack.

Bitcoin (BTC) is currently valued at $103,911.74, boasting a market cap of $2.06 trillion and a dominance of 61.91%. With a 24-hour trading volume of $46.48 billion and a minor daily drop of -0.03%, BTC maintains its stability. The past 30 days have seen an upward trend of 24.54%, according to CoinMarketCap data.

Analysis by Coincu research suggests that while immediate financial impacts from such scams may be contained, longer-term trust issues could emerge. Recurrent breaches might lead to regulatory pressures and necessitate improved technological defenses in managing crypto community channels.

Bitcoin’s price shows signs of positive change, registering a 2.3% increase.