A fraudulent version of Ledger Live has surfaced on the Apple Mac App Store, resulting in the theft of 5.92 BTC from musician Garrett Dutton, according to reporting highlighted by Coin Bureau.
The victim reportedly entered a 24 word seed phrase into the malicious application while setting up a hardware wallet on a new device, granting attackers full access to the funds.
The incident underscores a critical vulnerability in user security practices, as legitimate wallet software never requests seed phrases through desktop interfaces.
Blockchain investigator ZachXBT traced the stolen Bitcoin through multiple transactions, eventually linking the funds to deposit addresses associated with KuCoin. The fake application closely replicated the official interface, increasing its effectiveness in deceiving users.
Follow up reports indicate the same malicious app was responsible for approximately $9.5 million in losses across more than 50 victims within a single week, raising concerns about platform level review systems and the speed at which fraudulent applications can reach end users.
The breach highlights ongoing risks in the cryptocurrency ecosystem, particularly around self custody and wallet setup procedures. Industry guidance continues to emphasize that seed phrases must remain offline and should never be entered into any application, website, or digital interface.
The incident also places renewed scrutiny on Apple’s app review process, as high value financial applications require stricter verification to prevent large scale exploitation.
BitcoinVersus.Tech Editor’s Note:
We volunteer daily to ensure the credibility of the information on this platform is Verifiably True. If you would like to support to help further secure the integrity of our research initiatives, please donate here: 3C9o19EH5HSiwEPyCTmEKzxhNCbo2X6TTb
BitcoinVersus.tech is not a financial advisor. This media platform reports on financial subjects purely for informational purposes.
Bitcoin Versus 
Leave a comment