Ledger warns of a new ‘address poisoning’ scam.

Ledger took to X to reveal how cryptocurrency users are being targeted by a scam known as “address poisoning.”

Address poisoning is a scam where scammers “poison” a user’s wallet by sending a small amount of cryptocurrency or an NFT disguised as a voucher. That’s the purpose deceive users copy the scammer’s wallet address from your transaction history and return the voucher. This will send funds to the scam account instead of a legitimate one.

“These fictitious transactions are intended to trick you into thinking you have sent funds to their address in the past, but unless you initiate a transaction to one of these addresses yourself and sign the transaction with your ledger, no value will actually be transferred from your account,” Ledger tweeted.

Scammers have used open source software to create addresses similar to registry addresses. They can create addresses with the same first four or five characters and last four or five characters to trick users into sending them resources.

The scam has been particularly widespread among users of Live recordinga crypto wallet management tool.

How to avoid the scam

If you are concerned that a wallet may be compromised or you notice a suspicious transaction on an account, it is best to ignore or ignore the transaction and associated addresses.

By clicking or following a link in a Malicious NFT it’s not enough to jeopardize a wallet. The only potential risks to wallets include sharing or typing a 24-word recovery phrase or signing a malicious transaction with a Ledger device.

It is best to avoid interacting with unwanted tokens or addresses. Ledger advised users to right-click and “hide” the token to remove it from view.

In general, it is best to watch out for malicious links in a wallet that could lead to scam websites that try to trick users into sharing sensitive information or authorizing malicious transactions.

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