G. Love wanted to have an application on his cell phone that imitated Ledger Live, which manages physical cryptocurrency wallets.
The musician G. Loveknown mainly in the USA for the rock group G. Love & Special Sauce, lost savings of a life.
G. Love went to Apple’s App Store and downloaded for the cell phone fake application that imitated the software Ledger Live – that manages physical portfolios of cryptocurrencies.
According to , the case ended with the theft of 5.92 bitcoins, a theft valued at around 424 thousand dollars, almost 360 thousand euros (at the time of writing the article).
O attack combined two elements: the presence of a counterfeit application in the official Apple store and a critical error by the user when setting up the wallet on a new computer.
When opening the fraudulent program, the musician will have entered his seed phrase, the sequence of words that serves as a master recovery key for a crypto wallet.
Ledger explicitly warns on its website that any request to enter this phrase is a strong sign of fraud, precisely because physical wallets exist to prevent this sensitive data from being exposed online. But the musician “fell”.
A transfer of the funds will have been immediate, erasing almost a decade of savings accumulated in bitcoin.
The investigation into the money trail was carried out by blockchain analyst ZachXBT: the 5.92 bitcoins went through nine transactions before arriving at deposit addresses associated with the KuCoin platform.
G. Love has already admitted that he is also responsible for this loss, for not being more cautious. But he speaks publicly about the episode with one goal: it is a public warning about the proliferation of scams in the cryptocurrency ecosystem.
It will be very difficult the musician recover the money.
