EddieJayonCrypto

 12 May 25

tl;dr

Former Binance CEO Changpeng Zhao warned on X about a cryptocurrency scam involving Ledger's Discord admin account being compromised. Attackers impersonated Ledger staff, falsely claiming a vulnerability threatened users' sensitive data, including recovery phrases. The scam directed users to a fake ...

Former Binance CEO Changpeng Zhao has issued an urgent warning about a cryptocurrency scam targeting users of Ledger, the renowned hardware wallet manufacturer.

During the weekend, attackers compromised Ledger's Discord admin account and began impersonating Ledger staff. They falsely claimed a critical vulnerability put users’ sensitive data—including recovery phrases—at risk.

The scammers directed users to a fraudulent website, urging them to enter their recovery phrases. Falling for this trap could result in the irreversible loss of crypto funds.

Zhao strongly advised never to share private key recovery phrases under any circumstances, emphasizing that social media and messaging accounts are often the weakest security links.

This incident underscores the ongoing risks in the crypto space, where trust can be exploited through compromised platforms and convincing impersonations. Staying vigilant and safeguarding recovery phrases remains paramount for every crypto holder.

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