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In a fortunate turn of events, a fraudster has returned the XRP assets they stole from a crypto holder. This was after the victim sent a plea message asking the fraudster to return the funds.

Scammer Defraud Crypto Holders Using Fake Website 

On January 11th, the crypto community noted in a Twitter thread that a scammer created a bogus Ledger Live website targeting crypto holders. The scammer alleged that the website was to update the Ledger firmware.

Meanwhile, Ledger Live allows users to explore Web3, grow their assets, buy digital currencies, and manage NFTs. Users can download the app on their mobile devices or PC. The platform has over four million active users.

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On the other hand, Ledger is a widely used and popular option among crypto holders for storing their assets. Millions of individuals who hold various cryptocurrencies, such as BTC, XRP, and ETH, use Ledger as their preferred hardware wallet.

Sadly, many crypto holders clicked the link and downloaded the application. They later discovered they had lost all their assets in the cold wallet.

The crypto holders had downloaded malware to their legitimate Ledger firmware. This gave the attacker complete control over any stored coins.

Many were affected, including a woman who had accumulated over 75,000 XRP in the last six years. A user @haydentiff tweeted that they sent messages to the scammer hoping to get their funds.

Fraudster Returns Stolen 75K XRP To Victim

In a plea message sent to the scammer, the 59 years old single mother and XRP holder stated that she was not a corporation and was not very rich.

Rather, her XRP stash was the result of six years of hard effort working additional shifts so she could save some money. The single mother ended her message by saying that it might be difficult for the fraudster to change their mind.

However, she added a new XRP wallet address in her message if the hacker decided to return the money. Strangely, the fraudster initially refunded 50K XRP before transferring the entire 75K XRP in the next transaction.

Meanwhile, another user stated that they had reported the website to Ledger and Twitter to ensure no other person fell for the scam. Still, the user did not say whether the scammer had refunded his assets.

Over the years, scammers have devised new ways to steal from crypto holders. One issue with crypto transactions is that they are not reversible.

This makes it difficult for crypto holders to regain their assets once they have sent them to fraudsters. Fortunately, public blockchain networks’ transparency allows for identifying individuals or groups who engage in illicit activities.

This was demonstrated in the recent incident where Huobi and Binance prevented Lazarus Group, a North Korean hacking group, from converting stolen Ethereum obtained from the Harmony Bridge into cash.

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George Ward

By George Ward

George Ward is a crypto journalist and market analyst at Herald Sheets, known for his engaging articles on the latest digital currency trends. With a background in finance and journalism, he presents complex topics accessibly. George holds a degree in Business and Finance from the University of Cambridge.