Ledger’s reputation under fire: wallet users lose nearly $10 million
The stolen funds were laundered through KuCoin using more than 150 one-time addresses. The incident comes amid a Ledger data breach, further deepening the trust crisis surrounding hardware wallets.
15.04.2026
259
4 min
0
Ledger has faced yet another troubling incident that could seriously damage its reputation. GetBlock AML Research has uncovered details of a new criminal scheme targeting users of Ledger hardware crypto wallets.
From the App Store, With Malice
On April 7, a phishing application appeared in Apple’s official App Store, masquerading as Ledger Live—the software used to manage hardware crypto wallets. The fake app was not removed from the marketplace until April 13. During that period, more than 50 users fell victim to the scam, collectively losing approximately $9.5 million.
Screenshot of the phishing application in the App Store
Criminal Wallet Addresses
How the Stolen Assets Were Laundered
All stolen funds were transferred to the KuCoin exchange. To facilitate this process, the attackers used more than 150 one-time addresses. The full list of addresses involved in laundering the assets is available via the provided link.
KuCoin has previously been implicated in illegal activities. In early 2026, the trading platform paid a $300 million fine in the United States for violations of anti-money laundering (AML) regulations.
KuCoin Exchange Suspected of Money Laundering. Full Investigation
The Thai branch of the KuCoin cryptocurrency exchange was found to be linked to a criminal network from Cambodia that receives illegal income from fraud, drug trafficking, and human trafficking
Anyone Could Have Become a Victim
One of the victims of the fake Ledger app in the App Store was renowned musician Garrett Dutton, frontman of the band G. Love & Special Sauce. He downloaded the phishing application and entered his Bitcoin wallet’s private key. Shortly thereafter, attackers withdrew 5.92 BTC from his address.
What’s Happening with Ledger
Ledger is rapidly losing its reputation as users of its hardware crypto wallets continue to suffer financial losses. In early 2026, the company acknowledged a major data breach that exposed the personal information of hardware wallet owners to malicious actors.
Threat to Ledger Users: What to Do After a Data Breach
Ledger recently experienced another security incident: attackers gained access to the personal data of hardware crypto wallet users.
Useful material?
Telegram 
Twitter Research
The blockchain has helped uncover the ties between cryptocurrency fundraising campaigns, exchangers in Syria, and intermediaries in several countries around the world. A telltale pattern has emerged in which the same addresses were used across multiple donation drives at once
Jun 24, 2026
Research
Four Iranian cryptocurrency exchanges accounted for roughly 78% of all digital asset volume tied to the country in 2025. They have now become the focal point of the largest U.S. sanctions campaign against Iran's cryptocurrency infrastructure.
Jun 5, 2026
Research
A financial system is already up and running on public blockchains, with loans, analogues of U.S. Treasuries, and automated capital markets. More than $551 billion has flowed through DeFi protocols — but most of that activity has nothing to do with the real economy and everything to do with the speculative build-up of risk.
May 29, 2026
Research
Around 97% of Chinese suppliers of chemicals used to make fentanyl accept payment in cryptocurrency. The volume of such transactions continues to grow alongside the global market for synthetic drugs
May 22, 2026
Research
For the first time, the new law makes blockchain analytics an officially mandatory tool of financial oversight in the United States. Authorities will also gain the power to restrict transactions with foreign crypto services tied to money-laundering risks.
May 20, 2026
Research
Working with cryptocurrencies requires more than just new technology — it demands a complete overhaul of internal processes. We explain how the financial sector is learning to control digital assets and detect threats
May 8, 2026
Cryptocurrency rates
-
Bitcoin
$59 612
BTC
-1.78%
-
Ethereum
$1 563.77
ETH
-3.12%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.04
XRP
-2.99%
-
TRON
$0.160134
TRX
-1.59%
-
Dogecoin
$0.074589
DOGE
-1.86%
-
Zcash
$414.76
ZEC
+0.68%
-
Stellar XLM
$0.176807
XLM
-4.96%
-
Cardano
$0.143024
ADA
-3%
-
Polkadot
$3.32
DOT
+5.27%