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Crypto Wallet Provider Issues Alert to ETH, Polygon Holders

Tue, 09/19/2023 - 16:30
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Tomiwabold Olajide
Ledger issues critical warnings to Ethereum, Polygon and Binance account holders
Crypto Wallet Provider Issues Alert to ETH, Polygon Holders
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Ledger, a cryptocurrency wallet provider, has issued an important alert to Ethereum, Polygon and Binance account holders.

Ledger warns this group of users to be on the lookout for scam "voucher" NFTs sent to their accounts. According to the cryptocurrency wallet provider, these contain malicious links designed to deceive users into disclosing their 24-word recovery phrase.

Users may get unsolicited NFT airdrops that look to be vouchers, guaranteeing free money if redeemed on a third-party website, according to Ledger. It warns that these NFT vouchers are scams and frequently contain links to third-party websites.

In this scam, users are tricked into visiting third-party websites or apps where they will be asked to disclose their 24-word recovery phrase or sign a malicious transaction with their Ledger device, providing the scammer access to their accounts.

What to do to stay safe

Ledger reminds users not to reveal their 24-word recovery phrase to anybody or type it onto any website or app. It also outlines steps for them to stay safe, such as not attempting to send or burn the NFT and instead simply right-clicking the NFT and selecting "hidden."

In summary, users are to take the following steps when faced with an unwanted NFT voucher with links. The first step is to avoid any interaction with links or websites linked to the malicious NFT.

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Second, the NFT should not be sent to another account or burner address. This necessitates contact with the underlying smart contract of the NFT, which could be malicious and compromise the user's account.

Last but not least, conceal the NFT in Ledger Live by right-clicking on it and selecting "Hide NFT Collection."

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.