Hackers and bad actors have continued to slap the crypto sectors by back to back-to-back-to-back hacks, as per a recent announcement on May 11, 2025, hacking the account of a moderator who worked on contract for Discord server. It is worth noting that the hijacked moderator holds special permission; the hacker used that account to add a bot that posted fake links in the channel.
And further the posted links led to a fake website that looked like an official Ledger verification page, tricking people in sharing personal information.
In a Discord post, Quintin Boatwright a staff at ledger noted that, “ The issue was quickly contained: the compromised account was removed, the bot was deleted, the website was reported, and all relevant permissions were reviewed and secured.”
The security alert pop-up helped bad actors trick users
According to the information available, the malicious actors used a fake security alert pop-up to portray the website as legitimate, and the warning informs the victims that a vulnerability has been discovered, and further, they are advised to ‘verify’ their recovery keyphrase in order to remain safe.
However the verification was totally advised to be done by the link provided there in the post, the link was an exact copy of the original interface, and further redirected to a bogus websitning their crucial information.
Over the same incident, the former Chief Executive Officer of Binance wrote in his X post dated May 12, 2025, that “Ledger’s Discord admin account was hacked. The scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site.”
He further said in the post that two major lessons learned from the hack are, ‘ Never give up your private key recovery phrases no matter who is doing the asking.’ The second lesson is, ‘ Social network accounts for a crypto company are often the weakest links.’
Just got this security warning. Ledger's Discord admin account was hacked. The scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Lessons: 1. Never give up your private key recovery phrases no matter who is doing the…
— CZ BNB (@cz_binance) May 12, 2025
According to estimates, the worldwide bitcoin hardware wallet industry was worth between $245 million and $442.6 million in 2021. From then, it is expected to continue growing rapidly, reaching between $402.08 million and $8.77 billion.
The large variation in estimates might be the result of different approaches or the omission of relevant technology.
Crypto market price updates
When writing, the cryptocurrency market cap was $3.36 trillion with a surge of 1.00% in the past 24 hours, and the trading volume is $142.61 billion. In the same frame, the greed fear, and index were above 70 at 73, indicating growing greed in the market sentiment.
Bitcoin has been trading at $104,295 with a weekly surge of 2.30% with this back to back surge its price is soon expected to be near above the mark of $110k and experts of Washington forecast a new all time high of $115k.
