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Scam Warning and Alerts

Ledger Text Scam Update – July 2021 Report

Ledger is a well known platform that is used by a lot of people all over the world. Their hardware wallets are the go to choice for many people and as far as integration goes, they have done a pretty good job. Sadly, the scammers often target them and create narratives that damage their brand name significantly. Ledger Text Scam is the latest phishing attack that is affecting a lot of crypto enthusiasts.

While we do not know the ways used by the scammers to extract victim’s numbers, it is safe to assume that they won’t stop utilizing this loophole for a considerable period of time. The text message urges the users to complete the KYC process and it creates a sense of urgency by using fake claims.

Note that the scammers behind these types of attacks are very clever and they might change their approach from time to time. However, if you have a trained eye, you can easily spot the pattern every single time.

As the phishing attacks are turning out to be more deadly, read the following paragraphs carefully. We will enlighten you about the ways of recognising scams like this and also provide you information about the recovery process as well.

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    Ledger Text Scam Update

    How does Ledger Text Scam Work?

    Scammers send text messages to the users of Ledger services. The text requests the customer to go through the KYC process immediately. They also mention that if anyone ignores this message, then they might lose their cryptocurrencies permanently.

    People that are familiar with the blockchain technology will never fall for the trap, because they know that the narratives used by the crooks are fake. Unfortunately, the people that are new to the crypto realm will panic and hand deliver their sensitive information to the crooks.

    Identity theft and monetary loss is the combo which will be gifted to the users who fall for this phishing trap. It goes without mentioning that the consequences are lethal and chances are victims might never fully recover from the damage.

    So, be attentive and always verify the sender’s details before following any instruction received via text. Also, if you have any doubts, do not hesitate to visit the official website and talk with the representatives. After all, being conservative and playing it safe is always better than being quick and impulsive, right? 

    Target Audience

    Every phishing attack leaves a trail of clues behind using which we can analyse the goals of the scammers. This attack appears to be geared towards citizens of the United States. A lot of reports we received about this incident came from the US and it proves that the crooks clearly had precise methods to reach the intended user base.

    Geographical targeting is something that is tricky to pull off, especially in these kinds of attacks. Honestly, we have no clue about how they compromised so many security systems in order to carry out this approach.

    If the scammers used any website, then it would have been relatively easy to find more information. Sadly, all they used was cloaked links and that makes it extremely difficult if not impossible to find actionable intelligence. 

    Ledger Text Scam Phishing Attacks

    Over the years Ledger has seen many phishing campaigns that spoiled their brand name to a certain degree. The attacks were so huge and many people used to fall for them.

    To address the situation, they have a dedicated blog section wherein they expose the latest phishing scams. We suggest all of our readers to take a look at them because it will update you on all the latest scams involving their name. Note that, for obvious reasons they cannot cover all the platforms.

    What to do if you are Scammed?

    Getting looted by phishing scams or any other schemes will inflict a lot of pain. Nonetheless, never accept defeat without taking action against them. There are many institutions that help people fight cyber scams.

    For starters, file a formal complaint on FCA and other associated platforms. Hiring a recovery agency will give you the best odds hands down. If you have lost your valuable cryptocurrencies due to this type of fraud, then sign up for a free consultation using the contact form below.

    Our team will help you with all the process and give you actionable intelligence and solutions. As timing is crucial in the recovery process, the sooner you act, the better the probabilities are going to be.

    Golden Rules to Follow

    All the phishing scams have few things in common and those prominent factors are listed below. Every now and then, scammers might get innovative and come up with new believable kinds of stories.

    Nonetheless, as long as you stick to standard browsing practices and look for the signs covered below, you should be safe.

    Never Validate Unknown Transactions

    One of the most common theories used to invoke interest of the users in most of the Ledger phishing scams is the “validation messages’ ‘. Cyber criminals will ask the users to validate the transactions done by them and put pressure to take immediate action.

    If any user yields to the pressure, then the crooks are going to profit from it. So, never do anything if you are being badgered into it. More importantly, talk with the support team if you see any unusual activity in your account. Also, for your own safety use 2 FA login methods. 

    Use Official Website

    Ledger never redirects people to other platforms(there are few exceptions to this rule). They never buy any domain with word names similar to the original domain. If you see any unfamiliar websites or spelling errors, then take those signs seriously.

    Inform the official Ledger team and raise voice about the event using social media platforms. Also, keep an eye on things like the SSL layer and for any reason, if things seem a bit sketchy, then never reveal any of your personal details. 

    Never reveal any Sensitive Information

    This part is covered pretty well by most of the authoritative blogs and channels. Even many brands themselves and regulatory bodies have raised awareness about this aspect. No legitimate business or service will ever ask for your sensitive information ever. Ledger will never ask you to reveal your password, 2 FA code or things similar to it for any reason.

    If someone claiming to be working for them demands personal information, then without a shadow of doubt, you are dealing with a scam. Phishing websites or forms might cleverly ask for the personal information, but if you notice strange requests, remember to never comply. 

    Bottom Line

    Scammers love the crypto world as it enables them to take advantage of a lot of loopholes in the system. Moreover, the public is not that educated about blockchain technology and for the crooks it is easier than ever to loot innocent investors.

    Ledger Text Scam is the latest phishing scam that targeted the United States citizens, but we can guarantee you that it won’t be the last. So, be prepared and never let anything distract you from seeing the truth. Alternatively, you can report the matter to us as well and we will do our best to get the word out on behalf of you. 

    Have you encountered any similar things like Ledger Text Scam? Leave your answers below. 

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