Yes.
Of course it is.
And that’s giving you the answer you should be looking for (albeit by experience, not the answer most humans are looking for since most humans generally prefer sweet delusions over harsh reality).
Let’s take a quick look at how this scam operates.
“Ledger QFS” – buzzword bombardment
“Ledger QFS” is the brand name associated with dozens (if not hundreds) of similar scams, all aiming at the same goal: convincing unsophisticated investors to irreversibly send their crypto to various “Ledger QFS” scam platforms.
Generally, the word salad presented on these websites doesn’t make much sense or is purely nonsensical.
With that said, like most scams, this scheme hooks people through their weakness for the seventh deadly sin, greed, which disables their rational thinking capabilities.
“Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions!” – Luke 12:15
As a result of committing this sin, swift punishment follows: the victim’s funds become the property of the perpetrators.
Ledger Affinity scam
The scam also capitalizes on what is known as an “affinity scam” by branding their page as somehow associated with the leading hardware wallet manufacturer, Ledger.
No association or partnership exists between Ledger and “Ledger QFS.” However, bad actors will inevitably attempt to exploit the trust and social capital of the Ledger brand.
This alone should be a red flag enough to stay far away from any such offer.
Common Tactics Used in the QFS Scam
- False Promises of High Returns: Scammers may advertise investment opportunities within the QFS, promising substantial returns with minimal risk. These claims are typically fabricated to lure victims into investing money.
- Impersonation of Trusted Entities: Fraudsters often pose as representatives of reputable organizations, such as government agencies or well-known financial institutions, to gain the victim’s trust.
- Phishing Attempts: Scammers may send unsolicited emails or messages containing links to fake websites that resemble legitimate financial platforms. These sites are designed to steal personal information or prompt users to download malware. It’s crucial to verify the authenticity of any communication before clicking on links or providing personal details.
- Manipulation and Coercion: In some cases, scammers build a rapport with victims over time, gaining their trust before introducing the QFS investment opportunity. They may use emotional manipulation or threats to pressure individuals into transferring funds or sharing sensitive information
What to do to protect yourself
1. NEVER ENTER YOUR SEED PHRASE IN AN ONLINE DEVICE
If you do not clearly understand what this means, we highly recommend either refraining from investing in cryptocurrencies or booking a session with our consulting team.
Make sure to back up your seed phrase offline using the right tools (such as steel plates) and never share it with anyone.
Failure to understand this axiom will lead to lost funds and heartache.
2. DON’T CLICK SUSPICIOUS LINKS
Never let your guard down.
One misclick could result in your device being infected, leading to potentially catastrophic consequences.
If you feel vulnerable and ill-prepared, we highly recommend refraining from investing in cryptocurrencies or booking a session with a professional to guide you on your journey.
3. DO THOROUGH RESEARCH ON ANY PLATFORM YOU INTERACT WITH
This requires work and good judgment.
If you feel ill-equipped to navigate this process on your own, we strongly recommend against investing in cryptocurrencies. Alternatively, consider seeking professional help from a team with deep expertise to guide you on your journey.
Transfers in cryptocurrency are generally irrecoverable. Once you send funds to a malicious actor, you should mentally write them off.
To avoid this happening to you, we highly recommend investing your time and resources into education to protect yourself from these common missteps.
The fact that there are seemingly endless scams active at any given time indicates that the number of victims globally presents an attractive target for cybercriminals.
To avoid becoming a victim yourself, necessary preparation is required.
In 2025, the team at BitcoinVN also plans to offer in-person CyberSec group sessions in Ho Chi Minh City, Vietnam.
To stay up to date with security advice and gain valuable insights from the frontlines of protecting yourself from loss in the digital asset realm, you can subscribe for free to the BitcoinVN Newsletter.
