Fake Ledger Live App Scams Users Out of $9.5M
- A fake Ledger Live app on Apple’s App Store stole $9.5 million from over 50 victims between April 7 and April 13.
- The app targeted users across multiple blockchains, including Bitcoin, Ethereum, Tron, Solana, and Ripple.
- Apple removed the fraudulent app on April 13 after the issue was highlighted by an investigator.
- Musician Garrett Dutton, known as G. Love, lost nearly six BTC to this scam.
- Funds were laundered through over 150 Kucoin deposit addresses linked to the scam.
The fraudulent Ledger Live app exploited security gaps in Apple’s App Store review process, leading to significant financial losses for victims across various cryptocurrency networks. The incident underscores the need for heightened vigilance among users and platforms alike in safeguarding digital assets against such scams.
Despite Apple removing the fake app promptly upon discovery, the damage had already been done with substantial sums laundered through Kucoin’s platform without immediate intervention or resolution from the exchange itself (Source).
