An American musician lost approximately $420,000 worth of Bitcoin after downloading a fake Ledger wallet.

CoinFeed reported on April 12 that Philadelphia musician G. Love suffered a cryptocurrency theft after downloading a fake Ledger wallet app from the Apple App Store, losing approximately 5.92 BTC, equivalent to about $420,000 at current market prices. It is reported that G. Love was tricked into entering a 24-character mnemonic phrase by the fake app while setting up his Ledger hardware wallet. Blockchain investigator ZachXBT confirmed through a blockchain explorer that the stolen 5.92 BTC were transferred through a KuCoin address, and the flow of funds is still being traced.