Ex-Binance CEO Issues Urgent Warning After Ledger Discord Hack Scam

Former Binance CEO Changpeng Zhao has issued a severe warning after a phishing scam emerged from a compromised Ledger Discord account. According to Zhao, scammers took control of the admin account on Ledger’s server and used it to post a fake security alert.

The message, crafted to appear official, claimed a critical vulnerability in Ledger’s system exposed sensitive user information. The notification gave a wrong impression of the potential threat to the users’ shipment data, past transactions, and recovery phrases.

Victims were then instructed to visit a website that claimed to help verify if their recovery phrase had been compromised. The link took viewers to a deceiving copy of Ledger’s official page. Users risked having complete control over their crypto portfolio taken away when they entered their recovery phase.

CZ, the CEO of Ledger, warned that individuals should never share their recovery phrases with any person. He stressed that even messages supposedly sent from authentic sources could be false if the initial accounts had been hacked.

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Security Concerns Grow as Hackers Target Trusted Platforms

Scammers promised users a compensation package once they completed the so-called security check. The message was made to look credible, increasing the chances of convincing users to follow through.

Zhao also noted that social media and communication platforms are often the weakest link in crypto company security. Hackers usually capitalize on such platforms by targeting them with attacks on legitimate accounts, as was demonstrated here.

Ledger has not yet released a direct public statement, but Zhao’s post has gained significant traction. Users are sharing the alert to prevent further damage. Community members are advised to check any announcement thoroughly before doing anything involving the wallet.

The situation explains why constant alertness is so important in the crypto ecosystem. Users should doubt anyone contacting them for recovery phrases and verify all messages via official sources.

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