Phishing Scam Steals $424k from Musician G. Love on Mac App Store

Musician G. Love lost nearly $424,000 in Bitcoin after falling victim to a phishing scam on Apple's Mac App Store.

G. Love, whose real name is Garrett Dutton, discovered the fake Ledger app while migrating his setup to a new computer.

He entered his 24-word recovery phrase into the app, which then drained his wallet of 5.9 BTC - a decade's worth of savings for him.

ZachXBT, an on-chain investigator, tracked the stolen funds through deposit wallets and accused KuCoin of not intervening to recover the lost cryptocurrency.

Beau, head of security at Pudgy Penguins, warned that users should never enter their hardware wallet seed phrase on any internet-connected device.