Fraudsters Target Ledger Users with Fake Letters

The hardware crypto wallet manufacturer Ledger has confirmed reports of a fraudulent scheme to steal seed phrases using paper letters.

You are correct, this is a scam. We appreciate your efforts to warn others. Please stay vigilant against phishing attempts. Scammers impersonating Ledger and Ledger representatives are unfortunately common. While we actively report and block scammers, we can’t control what…

— Ledger (@Ledger) April 29, 2025

Renowned trader Jacob Canfield highlighted the new scam. He showcased a notification received on what appeared to be official Ledger letterhead, which mentioned a “critical security update.” Device owners are urged to “verify their wallets using the recovery phrase,” which must be entered after scanning a QR code.

“Failure to complete this mandatory verification process may result in restricted access to your wallet and funds,” the letter warns.

Canfield believes the fraudsters are using addresses from a leaked Ledger database for their phishing campaign.

“You are right, this is a scam,” the official account of the manufacturer replied to his post.

The company emphasized that its employees never initiate contact with users and under no circumstances request the recovery phrase.

“Only fraudsters do this. Be cautious and protect your cryptocurrency,” Ledger’s message states.

Back in December 2024, scammers posing as the company sent phishing email notifications to wallet owners about a service breach to obtain their seed phrases.