$4.8 Million Bitcoin Stolen from Scammer with Manipulated Ledger Wallet

Thieves have stolen nearly $5 million worth of Bitcoin (BTC) from a cryptocurrency scammer. This scammer had acquired the assets through a task-based fraud scheme. Blockchain analysis company Chainalysis has reported that the scammer lost over 60 Bitcoins, equivalent to $4.8 million. In this scam, individuals were paid to post fake reviews for real products, and then victims were tricked into depositing their money by creating a "negative balance" in their accounts. On September 22, the scammer transferred the proceeds from the fraud to three separate Ledger wallet addresses. On October 9, the thieves emptied all three wallets and consolidated the assets into a single wallet. Last week, the criminals stole approximately $90 million in digital assets by manipulating hardware wallets. Ledger has stated that the criminals spent several months purchasing original Ledger devices and installing hidden components in them. These manipulated devices were returned to the market through intermediary sellers in Southeast Asia. The attackers also established their own technical and logistical infrastructure to collect recovery phrases and launder the stolen funds.

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