Welcome to week 5 of the Crypto Alert of the Week series by AMLT, a series dedicated to documenting interesting or high profile frauds/hacks etc that recently happened and have been reported into the AMLT Network and show how the AMLT Network can help track and prevent it in the future.
Ledger then announced that it does not have access to this account and that it was a bug/glitch which caused the problem. Therefore, the funds sent to this address are lost and cannot be recovered, however Ledger decided to do a refund to anyone who send funds there. In total over 280 ETH and $15k worth of tokens were sent to this address before the bug was fixed.
Below you can see what the AML Risk Report related to the address looked like before it was reported to us through the AMLT Network. Further below you can see what it looks like afterwards.
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The AMLT Team
AMLT is the token for the AMLT Network and Coinfirm AML/KYC Platform. The first solution allowing the global economy to provide data to fight ransomware, hacking, malware and other online fraud and scams touching the cryptocurrency economy. In return for valid data provided, AMLT Network Members are rewarded in AMLT that can then be used in various ways. Created by Coinfirm, a global leader in regtech for blockchain and cryptocurrency, AMLT not only creates the first system where entities can report addresses and evidence tied to nefarious actors in the economy, but AMLT token can be used for discounted services on the Coinfirm AML/KYC Platform that is already servicing countless ICOs and over 100 companies in both the cryptocurrency and traditional spaces. Network Members also receive privileged access to Coinfirm products such as our tools and panels, the AMLT knowledge pool with exclusive content and materials as well as additional benefits and features, helping them limit exposure to risk and increase transparency for themselves, their clients and the entire digital economy.
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