Ledger Issues Urgent Warning on Fake Accounts and Recovery Phrase Scams

Major hardware crypto wallet Ledger issues scam warning as impersonation and phishing scams increase across the crypto ecosystem.

In a reply on X, Ledger warns that scammers impersonating Ledger and its representatives are becoming increasingly common. The wallet provider says it is actively reporting and blocking scammers on social media, but this cannot be enough given that it cannot control what accounts, whether real or bots, choose to say in their messages, emails, websites, calls, bios or usernames on X. It noted that this remains an ongoing challenge across platforms.

Ledger stated this in response to a crypto user “James Rule XRP” who flagged a fake email notifying of a post quantum security patch allegedly from Ledger.

Warnings issued

Ledger warns that as digital ownership grows, so does the sophistication and frequency of fraud attempts. It added that staying informed and vigilant of scams and phishing attempts is important and necessary to protect users.

You Might Also Like

In a separate tweet, Ledger noted that staying informed about common online scams remains a crucial aspect of digital ownership, especially during times when phishing attempts are getting active across the ecosystem.

Ledger warns that if a message feels unexpected or suspicious, taking a moment to pause might be important. In this context, it is important for crypto users never to click on links or share information. They should double-check through official Ledger channels as this can prevent irreversible mistakes.

As a reminder, Ledger says it will never call, DM, or ask for a 24-word recovery phrase from crypto users. If someone does, it might be a scam. Ledger urges crypto users to stay cautious, keep their assets safe and always clear sign transactions where possible.

Ledger will never ask for secret Recovery Phrase (SRP) nor call users on the phone and will never DM them first.

As phishing scams increase across the crypto space, crypto leaders are taking up the responsibility of warning the crypto community about these threats.

In one such warning, Ripple CTO Emeritus and one of the original architects of the XRP Ledger, David Schwartz warns of phishing attempts as scammers impersonate Robinhood to send emails to users.