How to identify scams like "Ledger - Critical Security Vulnerability"

What kind of scam is "Ledger - Critical Security Vulnerability"?

Our analysis of the email has shown that it contains a deceptive message with a link to a fake website. The email is disguised as an important security update to trick recipients into revealing personal information. The ultimate goal is to steal cryptocurrency. Recipients should ignore this email.

More about the "Ledger - Critical Security Vulnerability" scam email

This email is a phishing attempt targeting cryptocurrency users. It claims to be from a well-known hardware wallet company (Ledger) and warns of a critical security vulnerability in devices running older firmware. The message urges recipients to complete a verification process immediately to protect their crypto assets.

It states the verification process includes device connection verification, firmware check, entropy validation, and security protocol confirmation. It also warns recipients that failure to comply may result in restricted access to security features. The goal is to lure recipients into a fake website.

On that site, visitors are instructed to complete an "Entropy verification" by entering their 12, 18, or 24-word recovery phrase. The submitted information is sent to scammers who can misuse it to access cryptocurrency wallets and drain them (steal cryptocurrency). It is important to note that such transactions are irreversible, and most victims lose their crypto permanently.

Conclusion

In conclusion, this email is a fraudulent attempt to steal cryptocurrency by tricking users into revealing their recovery phrases. Recipients should never enter their private keys or recovery phrases on shady sites. Awareness and caution are essential to avoid irreversible financial loss.

Here are some examples of similar scams: "Security Notifications - Email Service Scam", "Your Mail Is On Hold Scam", and "Account Update Required Email Scam". Such emails can also be used to distribute malware.

How do spam campaigns infect computers?

When cybercriminals use email to spread malware, they include infected attachments or links to malicious websites. Attachments may be malicious documents, executable files, scripts, or compressed files (or other file formats) that carry malware, which activates when those files are opened or when certain features, such as macros, are enabled.

Links in fraudulent emails can direct users to fake websites that either automatically download malware or persuade users to download it manually. In general, infections happen when recipients engage with malicious content.

How to avoid installation of malware?

Exercise caution with unexpected or suspicious emails, particularly those containing attachments or links, and refrain from opening anything that seems unsafe. Regularly update your operating system, browser, and applications. Use trusted security software to scan your device for potential malware and other threats.

Do not download or install pirated programs, or use cracks, or key generators, as they often carry malware. Avoid interacting with ads or pop-ups on untrustworthy websites, and block any notification requests from these sources.

The appearance of the fake Ledger website (GIF):

Text presented in the "Ledger - Critical Security Vulnerability" email letter:

Subject: Important Security Update: Protect Your Crypto Assets Now

Ledger

Dear Ledger User,
We have identified a critical security vulnerability in our entropy generation system that requires immediate attention. This affects devices running firmware versions prior to 6.52.12.

Action Required: Your device may be at risk. Please complete the verification process immediately to ensure the security of your crypto assets.

To protect your funds and maintain the highest security standards, we need you to verify your device's entropy generation. This process is quick and secure, and will help us ensure your Ledger device is functioning properly.

The verification process includes:

Device connection verification
Firmware version check
Entropy generation validation
Security protocol confirmation

Verify Device Now

Important: This verification is mandatory for all Ledger users. Failure to complete this process may result in restricted access to your device's security features.

If you have any questions or need assistance, please contact our support team immediately.

This email was sent to you because you signed up at Ledger.com or purchased a Ledger product. We respect your right to privacy. Read our Privacy Policy and Cookie Policy.

© Ledger SAS. All rights reserved. Ledger brands are registered trademarks of Ledger SAS. Ledger SAS, 106 Rue du Temple, 75003 Paris.

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Quick menu:

• What is Ledger - Critical Security Vulnerability fake email?
• Types of malicious emails.
• How to spot a malicious email?
• What to do if you fell for an email scam?

Types of malicious emails:

Phishing Emails

Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.

Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.

After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.

Emails with Malicious Attachments

Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.

In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.

If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.

While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.

Sextortion Emails

This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.

To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.

How to spot a malicious email?

While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:

• Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
• Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
• Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
• Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.

To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows. 

Example of a spam email:

What to do if you fell for an email scam?

• If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
• If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
• If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
• If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using  Combo Cleaner Antivirus for Windows.
• Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.

Frequently Asked Questions (FAQ)

Why did I receive this email?

Such emails are usually sent to large numbers of recipients. Getting a scam email usually indicates that your email address is on a list used by scammers.

I have provided my personal information when tricked by this email, what should I do?

If your login details were shared, change the passwords for any affected accounts immediately. For financial or personal identity information, contact the relevant institutions or authorities.

I have downloaded and opened a malicious file attached to an email, is my computer infected?

Executable files (if malicious), like .exe, can infect a device as soon as they are opened. Word and Excel documents are generally safer, but enabling macros or similar features can still trigger malware. The risk depends on the file type.

Scammers have stolen my cryptocurrency, can I get it back?

No, cryptocurrency transactions are irreversible. Once scammers take it, it cannot be recovered.

I have read the email but did not open the attachment, is my computer infected?

Simply opening or reading an email is safe. A device becomes at risk only if a malicious link is clicked or a harmful attachment is opened.

Will Combo Cleaner remove malware infections that were present in email attachment?

Combo Cleaner can remove most common malware, but performing a full system scan is advised to find and eliminate more advanced threats.