Ledger users are the target of a malicious fraudulent email that uses the term “transparent signature”

The crypto industry is increasingly concerned about phishing attacks, which resulted in the theft of over $46 million in cryptocurrency during September.

In an effort to rob Ledger users of their cryptocurrency holdings, a new surge of fraudulent emails has emerged.

The purpose of the hoax emails is to persuade users to activate a security feature known as “Ledger Clear Signing” by October 31 in order to continue using their Ledger device.

Users are directed to a malicious link to activate the fabricated security feature in the emails, which are sent from addresses that are not associated with Ledger. The fraudulent email contains the following information:

“Starting November 1, 2024, it is mandatory to activate Clear Signing in order to continue using your Ledger device securely. This feature is indispensable in safeguarding your assets from increasingly sophisticated fraudulent activities and phishing attacks.”

Scammers deceive users into voluntarily disclosing their account information to them. Users of cryptocurrency should refrain from giving out personal information to unknown sources or clicking on suspicious links.

For comment, Cointelegraph has reached out to Ledger. In the cryptocurrency sector, phishing attacks are becoming more prevalent. In the most high-profile phishing attack of the year, a trader lost $71 million in cryptocurrency in May. The assailant successfully deceived the trader into transferring 99% of their funds to the attacker’s address.

Ledger’s hardware wallets are among the most widely used in the industry, which makes them a prime target for fraudsters.

Nevertheless, Thomas Roccia, a senior threat researcher at Microsoft, has identified the current spate of emails as a “very tidy Ledger fraud.”

Roccia observed in a subsequent post that the fraud link redirects users to a URL that is entirely unrelated to Ledger.

Also Read: HTX Provides TradingView Crypto Trading