American musician G. Love reported that he lost about 5.9 BTC after installing a fake Ledger wallet application on his new computer.

Incident details

According to the musician, the funds disappeared instantly after he opened the downloaded program and began the wallet migration process on his machine.

On-chain tracing

On-chain analyst ZachXBT traced the movement of the assets and reported that 5.92 BTC were eventually routed through deposit addresses associated with the KuCoin exchange.

Blockchain records suggest the stolen balance was split and consolidated through multiple intermediary addresses before final transfer to exchange-controlled deposits.

Community response

Members of the community expressed skepticism about the fake application explanation, noting that Ledger devices typically require physical confirmation on the hardware to approve outgoing transactions.

Some observers also pointed to a possible substitution of the developer identity in the macOS App Store as an alternative route for the malicious software to reach users.

No official statements from Ledger, KuCoin, or Apple were cited in the initial reporting of the case.