1.4M XRP Stolen via Fake ‘Ledger Live' Chrome Extension; Still Available on Google

Approximately 1.4 million XRP has been stolen from the users in the month of March alone through the use of a fake Google Chrome extension.

Through a thread of tweets released on March 24, a research group known as xrplorer forensics, revealed that hackers are stealing user backup passphrases through fraudulent Ledger Live extensions. Xplorer forensics stated:

“They are 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.”

After a while, xrplorer forensics revised the figure from 200k XRP to 1.4 million.

As per the researchers, the majority of the stolen XRP seems to be still intact in accounts, however, a proportion of it has already been cashed out through crypto exchange platform HitBTC.

The researchers have cautioned the public from downloading tools to use within their hardware wallets from different developers apart from the vendor directly. They particularly single out Ledger users and caution them from downloading tools apart from the manufacturer only.

By publication time, two ‘LedgerLive’ extensions are available on Google store for use with Chrome browser. The two extensions comprise of a couple of user reviews that are in tandem with xrplorer forensics warnings.

Through their Twitter account, xrplorer forensics has alleged that about 300 million XRP which is at the moment in different XRP accounts has been earmarked as fraudulent. The researchers claim that most of it has originated from the PlusToken exit scam. In their estimation, about 13 million XRP has originated from different scams and theft schemes.

The researchers have also called out crypto exchange platform bithunter.io, questioning why it didn't observe the AML alerts for various big and reportedly suspicious transactions. As per the researchers, about a third of the entire XRP received by bithunter comes from suspicious accounts that are in their advisory list.

The researchers also caution other exchanges to be vigilant as scammers are currently consolidating their loot, urging them to be extra careful with the incoming payments.

Ripple (XRP) Live Price

1 XRP/USD =$0.1774 change ~ 0.19%

Coin Market Cap

$7.68 Billion

24 Hour Volume

$137.87 Million

24 Hour VWAP

$0

24 Hour Change

$0.0003

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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