A fake version of the Ledger Live app, distributed through Apple’s App Store, has resulted in the theft of at least $9.5 million worth of cryptocurrencies. In recent days, numerous victims have come forward on social media to recount how they lost access to their wallets after downloading this malicious app. Among them are individuals who lost their entire retirement savings in a matter of moments.
Victims suffer devastating losses
One of the victims, known as @glove on the X platform, revealed that they lost all 5.9 Bitcoin accumulated over a decade due to the fake application. The user explained that while setting up a new computer, they mistakenly downloaded what they thought was the official Ledger software, only to discover later the devastating financial consequences.
“I lost my entire retirement fund in an instant—every single Bitcoin is gone.”
Blockchain researcher ZachXBT tracked the flow of @glove’s 5.92 stolen Bitcoin across the blockchain. The funds, transferred through a complex series of movements in mere seconds, ultimately landed at the KuCoin exchange. This approach closely resembles the “cleaning chains” frequently used in cryptocurrency thefts to obscure the path of stolen assets.
The phishing campaign, which was active from April 7 to 13, did not only impact one group. Victims spanned over 50 different individuals using networks like Bitcoin, Ethereum, Tron, Solana, and XRP. The three largest known cases resulted in seven-figure losses: on April 9, $3.23 million in USDT; on April 11, $2.08 million in USDC; and on April 8, assets worth $1.95 million, including BTC, ETH, and stETH, were stolen.
Stolen funds vanish without a trace
According to victim reports, many users entered their wallet recovery phrases into this bogus software before realizing its fraudulent nature, granting the attackers full access to their holdings. The stolen crypto assets were dispersed into more than 150 separate KuCoin wallets to hide their trail.
Some transfers were executed via AudiA6, a central crypto mixing service known for charging high fees and for its role in laundering illegal funds. Notably, this happened during a period when KuCoin was already facing significant legal scrutiny, highlighting the exchange as a critical node for illicit transactions.
In February 2026, Austrian regulators barred KuCoin from onboarding new users from the European Union, a ban enacted right after the exchange obtained its MiCA license. In addition, KuCoin paid over $300 million in fines in 2025 to settle a major U.S. anti-money laundering investigation.
App Store’s security now under fire
In the wake of these events, Apple promptly removed the fake Ledger Live app from the App Store. However, questions remain over how the malicious software received approval and how long it remained available to users. Experts note that the app’s distribution through Apple’s own marketplace could expose the tech giant to significant legal risks.
According to ZachXBT, given the scale of the losses, victims could pursue a class action lawsuit and Apple may also face compensation demands.
Incidents of this kind have become increasingly frequent in the cryptocurrency market in recent years. In 2025 alone, investors are estimated to have lost a total of $17 billion to hacks and scams. Fraudsters often rely on social engineering tactics and phishing schemes to seize control of users’ wallets.
One victim stressed in their social media post, “This was a decade’s worth of work. Everyone, please be extremely careful,” highlighting the ongoing threats facing the crypto community.
