1.1m XRP stolen in phishing scam on crypto wallet Ledger lookalike

Such an attack vector last week saw millions of XRP stolen from a fake Ledger site, with the attackers using a fake domain name and successfully swindling funds.

The 1.1 million XRP - stolen from different users - is currently worth over $280,000, as per CryptoSlate data.

As per XRP Forensics, the attackers sent the funds to Bittrex, a crypto exchange, which was "Unable to seize" or flag the addresses and allowed the attackers to actualize the loot.

Dmytro Volkov, CTO of the international cryptocurrency exchange CEX.IO, told CryptoSlate that such hacking attacks against crypto wallets are usually focused on the most vulnerable parts - user devices and the user themselves.

A hack by "Social engineering" was infamously seen in July's outrage at microblogging site Twitter, which saw a 17-year-old teen from Florida target 25 high-profile political and celebrity accounts and initiate a crypto scam.

We also see an uptick in reports of stolen XRP as a result of this scam.

Volkov suggested users check website URLs and HTTPS certificates prior to engaging with any crypto platform - despite any visual similarities.

This method - the one used by the fake Ledger website involving the stolen XRP - sees a hacker create a site similar to the real website and eventually receive a user's password or one-time confirmation code, following which the credentials are changed and all assets transferred out.

Crypto hacks continue to rise despite a favorable year.

As per an earlier CryptoSlate report, crypto attacks have marginally fallen this year, as education of additional security measures and awareness about attack vectors has been instilled among the users.