Fake Ledger Live app on App Store leads to $9.5M theft

A fake Ledger Live application on the Apple App Store has resulted in the theft of approximately $9.5 million in cryptocurrency, Cointelegraph reported, citing on-chain analyst ZachXBT. More than 50 victims were affected, with funds stolen across various blockchains including BTC, ETH, SOL, TRX, and XRP. The stolen assets are believed to have been laundered through over 150 deposit addresses on KuCoin. The fraudulent app was removed from the App Store on April 13, with some individual victims reportedly losing millions of dollars. Ledger issued a warning, stating that it never asks users to enter their seed phrase under any circumstances.