Fake Ledger App on Apple App Store Drains Over $400,000 in Bitcoin
A pretend Ledger app on Apple’s Mac App Store value musician G. Love practically 6 BTC after he entered his restoration phrase into the malicious software program. The stolen Bitcoin was price greater than $424,000.
In an April 11 X submit, Garrett Dutton, the singer often known as G. Love, defined the loss whereas he was transferring his Ledger setup to a brand new Apple pc.
Bitcoin Theft Highlights Risks of Fake Wallet Apps
He defined that the incident occurred after he searched the App Store for Ledger Live, downloaded an app that appeared genuine, and adopted its prompts. The app then requested for his 24-word seed phrase. As quickly as he entered it, the attackers drained the Bitcoin.
Dutton mentioned the stolen funds had been a part of his retirement financial savings.
“I misplaced 5.9 BTC all I had for ten years I labored on this f#ck watch out on the market,” he acknowledged.
On-chain investigator ZachXBT mentioned the stolen 5.92 BTC had been routed via addresses recognized as KuCoin deposit addresses.
When requested whether or not the funds may very well be recovered, ZachXBT mentioned he didn’t count on KuCoin to intervene.
Instead, the on-chain investigator accused KuCoin of presenting itself as compliant solely when it suited its pursuits. He additionally pointed to KuCoin’s lack of its MiCA license in February 2026, simply three months after acquiring it, as evidence of deeper compliance problems.
ZachXBT continued, noting that illicit companies proceed to use dealer and private accounts on the platform, with little seen regulatory resistance. He added that the massive variety of deposit addresses advised the thieves might have routed the funds via an instantaneous change.
Meanwhile, Beau, head of safety at Pudgy Penguins, warned crypto customers by no means to enter a hardware wallet seed phrase on an internet-connected system similar to a laptop computer or telephone.
He mentioned scammers typically distribute fake wallet apps via e-mail, misleading ads, and even bodily mail. The safety professional added that customers ought to deal with any message urging them to download or update wallet software as a scam till they independently confirm it.
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