Ledger Issues Warning Over Crypto-Stealing Google Chrome Extension

Michael LaVere
  • Hardware wallet manufacturer Ledger has issued a warning over a fraudulent Google Chrome extension.
  • The extension mimics Ledger Live and asks users to enter their 24-word recovery phrase. 

Cryptocurrency hardware wallet manufacturer Ledger has issued a warning to users over a new phishing attack using an extension in Google Chrome. 

According to a tweet, Ledger alerted users to a fraudulent Chrome extension which asks users to enter their 24-word recovery phrase. The tweet reminds Ledger clients to never share their recovery phrase or enter it in an internet-connected device. 

The attack was first reported by Catalin Cimpanu, a cybersecurity reporter for business technology outlet ZDNet. The fraudulent Chrome extension, called Ledger Live, mimics the mobile and desktop application Leger Live which allows clients to sync their hardware wallet with a secured device. 

Once installed, users are asked to enter their 24-word seed phrase into the extension, which collects the data via a Google Form. Attackers can then use the recovery phrase to access a user’s Ledger wallet and “recover” the funds to a different account. 

Harry Denley, Director of Security at MyCrypto, told ZDNet, 

The extension makes no sense to install and use because it defeats the purpose of having a hardware wallet with your secrets offline.

While the extension has been removed from the Google Chrome Web Store, the ZDNet report claims it was downloaded at least 120 times. 

Featured Image Credit: Photo via Pixabay.com

Tim Draper Reveals He Owns Cryptocurrencies Other Than Bitcoin

Michael LaVere
  • American venture capitalist Tim Draper revealed owning more crypto-assets than just bitcoin.
  • Draper expects the value of bitcoin to increase as a result of the Federal Reserve's money-printing tactics. 

American venture capitalist and bitcoin bull Tim Draper claims to own “a lot of other cryptocurrencies” in addition to BTC. 

Speaking in a recent interview with British entrepreneur Rob Moore, Draper claimed that his diversified portfolio in crypto-assets had led to him being “surprisingly up” despite the economic impact of the coronavirus. 

He said, 

You know, when I played Monopoly, I never showed anybody how much money I had so so that you're not gonna get an up or down.

Draper also criticized the U.S. Federal Reserve’s money-printing response to the COVID-19 pandemic, which he said would lead to the dollar crashing in value. He claimed the impact of the falling dollar would drive more value into bitcoin. 

He said, 

There are only 21 million of them and they are going to be more and more valuable as you see governments have less and less.

Draper continued, saying his experience working as a venture capitalist and interviewing entrepreneurs has given him a “pretty good view” of what the future is going to look like. He expects governments to move towards decentralization in a competition for their own citizens. 

Featured Image Credit: Photo via Pixabay.com