Phishing scams targeting wealthy Ledger users, particularly those with substantial cryptocurrency holdings, have seen a surge. These attacks involve fake devices and letters impersonating legitimate security updates to obtain sensitive recovery phrases. The scams exploit a 2020 breach, potentially exposing high-value cryptocurrencies to theft. While no major institutions are reported affected yet, the attack poses significant financial risks for users holding significant amounts of Bitcoin (BTC) and Ethereum (ETH). Ledger, a leading cryptocurrency storage device provider, urges caution against fraudulent schemes by highlighting that they will never call, message, or request recovery phrases. The company is actively implementing enhanced security measures to mitigate further attacks. The increasing sophistication of these phishing scams underscores the urgency for robust security protocols and regulatory frameworks to protect user data and assets in the evolving cryptocurrency landscape.