The letters appear to be from the trusted hardware wallet company.
Ledger users are tricked into revealing their recovery phrases. This gives scammers access to the wallet and its funds.
Scammers Target Ledger Users with Fake Letters
Scammers have been mailing physical letters to owners of Ledger crypto hardware wallets, falsely claiming to be from the company. These letters attempt to deceive users into thinking they need to perform an urgent “security update” on their devices. The letter prominently displays Ledger’s logo and business address. It includes a QR code and instructions to input the private recovery phrase to validate the device.
Breaking: New scam meta launched. Now they’re sending physical letters to the @Ledger addresses database leak requesting an ‘upgrade’ due to a security risk.
Be very cautious and warn any friends or family that you know is in crypto and is not that savvy. pic.twitter.com/XoUAGQBJXt
— Jacob Canfield (@JacobCanfield) April 28, 2025
The letter threatens users by stating that failure to complete the process could lead to restricted access to their wallet and funds. This is a high-pressure tactic designed to make recipients act quickly without questioning the legitimacy of the request. A seed phrase (or recovery phrase) is a string of 12 to 24 words that serves as the key to unlock a crypto wallet. If a scammer gains access to this phrase, they can easily control the wallet and move any assets it holds.
What Ledger and Experts Say
Tech commentator Jacob Canfield brought attention to the scam on April 29, 2025, after receiving one of these fake letters. In his post on X (formerly Twitter), Canfield shared the letter and urged users to remain cautious. In response, Ledger confirmed that the letter was indeed a scam and reminded users that the company would never ask for recovery phrases or private keys. Ledger also advised users to be especially vigilant against phishing attempts and always verify any communication they receive, especially if it demands sensitive information.
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
This is not the first instance of such scams targeting Ledger users. Earlier this month, reports from a crypto hardware wallet reseller surfaced, with several customers also receiving similar letters. Scammers are increasingly using these kinds of tactics as crypto adoption grows, making it all the more important for users to stay informed and cautious.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
