Cybersecurity researcher uncovers fake Ledger sold on Chinese marketplace

The researcher said they examined the fake Ledger device’s firmware and found signs pointing to a Chinese semiconductor company named Espressif Systems.

A Brazilian security researcher has warned others of the latest counterfeit Ledger device scam aimed at stealing users’ crypto.

Posting as “Past_Computer2901” on the “ledgerwallet” Reddit channel on Thursday, the security researcher said they purchased what they thought was a legitimate Ledger device for personal use, but soon realized after it arrived that it was a sophisticated counterfeit aimed at stealing user funds. 

“This isn't meant to cause panic, but rather to serve as a serious warning — I’m honestly still a bit shaken by the sheer scale of this operation,” they said. 

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