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American musician Garrett Dutton, known by his stage name G. Love, lost nearly six bitcoins after downloading a counterfeit version of the Ledger wallet application.
The incident occurred while he was setting up a hardware wallet on a new Apple computer. Dutton was searching for the Ledger Live app in the App Store but mistakenly installed a fake version instead.
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The application appeared to be legitimate, but upon launching it, it prompted him to enter his seed phrase. Once the musician complied, the perpetrators gained access to his wallet and withdrew all the bitcoins.
According to Dutton, the stolen BTC represented a portion of his retirement savings. He clarified that other cryptocurrencies in his account remained unaffected.
Blockchain analyst known as ZachXBT tracked the movement of the funds. His findings indicated that 5.92 BTC passed through nine transactions and were transferred to deposit addresses on the KuCoin exchange.
Previously, a man in South Korea was accused of attempting to poison a business partner, allegedly due to losses from bitcoin investments.
