- Apple removed a fraudulent Ledger wallet app after an investigation revealed it was used to steal nearly $10 million in crypto from over 50 victims.
- Blockchain investigator ZachXBT found the theft occurred in April, with funds laundered through the mixer AudiA6.
- American singer G. Love publicly stated he lost over $436,293 in Bitcoin after downloading the malicious app and entering his seed phrase.
- Apple defended its App Store security, stating it rejected over 320,000 spam app submissions and prevented 37,000 fraudulent products from reaching users in 2024.
- This is not an isolated event; ZachXBT previously flagged a similar fake Ledger app on the Microsoft App Store in 2023.
Apple has defended its App Store security after an investigation this week revealed Hackers stole nearly $10 million in cryptocurrency via a fake Ledger wallet app. Blockchain sleuth ZachXBT on Tuesday said he found that $9.5 million in various cryptocurrencies was stolen in April from users who downloaded the malicious software.
Apple removed the app this week and suspended the developer’s account due to its bait-and-switch functionality. A company spokesperson added that in 2024, it rejected over 320,000 spam app submissions and prevented 37,000 fraudulent products from reaching users.
The case gained prominence after American singer G. Love posted on X that he lost 5.9 Bitcoins, worth over $436,000. “I been in the crypto circus since 2017. Today they caught me off guard,” he wrote, explaining he was tricked into entering his seed phrase.
According to ZachXBT’s investigation, the theft impacted over 50 victims between April 7 and 13. Funds were moved from KuCoin addresses and laundered through a centralized mixer called AudiA6.
Consequently, three victims suffered the biggest losses, a combined $7.25 million mostly in stablecoins. This high-profile incident highlights a persistent threat from fake crypto applications.
Cybercriminals have used fake apps and ads to steal crypto for years. For instance, ZachXBT flagged in 2023 that over half a million dollars was lost to a fake Ledger app on the Microsoft App Store.
Meanwhile, even prominent figures are not immune to such scams. Billionaire Mark Cuban lost nearly $900,000 in 2023 after accidentally downloading a fake MetaMask wallet from a Google ad.
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