CRYPTO SCAM ALERT (March 26, 2020) – Beware cryptonites, there is a fake Google Chrome ledger extension out there wrecking havoc. According to a new report by Xrplorer Forensics, a cryptocurrency research team, a number of fraudulent Ledger Live extensions have popped up on the Chrome extension market recently. These extensions, if installed will collect users’ backup passphrases to gain access to accounts.
Particularly, one fake Google Chrome Ledger extension in has stolen a total of 1.4 million Ripple’s XRP tokens from holders this month (March 2020).
“They [‘re] advertised in Google searches and use Google Docs for collecting data. Accounts are being emptied and we have seen more than 200K XRP being stolen the past month alone.”
Fake Google Chrome Ledger extensions still available to download
At the time of this writing, users can still install most the fake Google Chrome ledger extensions; including the one recently used to steal the 1.4m XRP tokens.
Xrplorer forensics warned crypto holders and traders to not download Google Chrome ledger extensions from the market. Instead, they should click on the link from the Ledger’s official website. Below is a screenshot of the scam request posted by Xrplorer.
Crypto exchanges can help contain the XRP scams and others
Cryptocurrency exchanges are in unique position to help mitigate the currently, future XRP phishing scams, and other fraudulent crypto schemes. Reporting and freezing flagged accounts are vital ways to start.
For instance, accounts identified as fraudulent, accused of exit scams, and stolen are currently holding 300 million XRP coins. 13 millions of them were part of the PlusToken cryptocurrency wallet scam.
additionally, exchanges can help is by triggering anti-money-laundering (AML) alerts whale-like transactions. The report states that, bithunter exchange holds 1/3 of fraudulent, stolen or scams XRP tokens.
Bithunter.io is well documented for their lacked of Know Your Customers (KYC) and AML enforcement.
Are you a victim or know someone scammed by Google Chrome ledger extensions phishing scam? Share with our readers on the comment section below.
Faith Obafemim tech lawyer, digital content consultant, blockchain & crypto researcher, emerging tech tech writer. She is currently doing research on the implementation of the African Continental Free Trade Agreement (AfCFTA) on the blockchain and recommending Kleros as a dispute resolution layer.