Scam using fake Ledger app steals 5,9 BTC from American musician.

• Fake Ledger app steals cryptocurrency from users.
• Scam using mnemonic phrases is on the rise in 2026.
• Security in cryptocurrency wallets requires extra attention.

A new cryptocurrency scam has come to light after an American musician lost 5,9 BTC, valued at approximately US$420. The incident occurred after installing a fake app that mimicked the official Ledger software, available on the App Store.

Garrett Dutton, known artistically as G. Love, reported the incident in a post on the social network X. According to him, the loss represented his long-term financial reserve, compromised after entering his mnemonic phrase into the fraudulent application.

“All my BTC disappeared in an instant,” the musician stated, highlighting how quickly the funds were drained. He also mentioned that other cryptocurrency investments were not affected by the attack.

Initial investigations indicated that the stolen assets were moved quickly. On-chain analyst ZachXBT pointed out that the bitcoins were sent to addresses linked to the KuCoin exchange, in a total of nine transactions, a common practice to make tracking more difficult.

Cases like this reinforce a worrying trend in the market. Scammers continue to exploit hardware wallet users, mainly through fake apps and phishing attacks. In previous situations, criminals have even sent physical letters requesting recovery phrases.

Ledger itself has warned that even official app stores can host malicious software. The company recommends that users download tools only through the official website, avoiding risks associated with fake versions.

Recent figures illustrate the scale of the problem. Reports indicate that cryptocurrency fraud could reach record losses of US$11,36 billion by 2025. The increase in the volume of complaints is also noteworthy, with over 181 reports related to the sector in a single year.

Furthermore, thousands of victims reported substantial losses, with amounts exceeding US$100 in several cases. The average loss also remains high, reflecting the increasing sophistication of digital fraud.