What happened with the fake Ledger app on Apple’s App Store?

Apple removed a malicious app that impersonated Ledger Live after more than 50 users were scammed. The fake app tricked users into entering their seed phrases, leading to total losses of about $9.5 million.

How did the fake Ledger app scam work?

The scam used a “bait-and-switch” tactic where the app appeared legitimate at first but later changed to mimic Ledger Live. Users were prompted to enter their seed phrases, giving attackers full access to their crypto wallets.

How much money was stolen in the scam?

More than $9.5 million was stolen from over 50 victims. A large portion of the losses came from a few individuals, including millions of dollars in Tether, USD Coin, Bitcoin, Ether and staked Ether.

Who discovered the scam?

Blockchain investigator ZachXBT identified the scam and tracked the losses onchain. The activity occurred over a short period between April 7 and April 13.

What action did Apple take?

Apple removed the fake app from the App Store and terminated the developer account responsible. The company also confirmed the app violated its policies through deceptive practices.

What is a seed phrase and why is it important?

A seed phrase is a set of words that gives full access to a crypto wallet. If someone gains access to it, they can control and transfer all funds, making it the most critical security element in self-custody.

Why are crypto wallet scams like this increasing?

Scammers are becoming more sophisticated and are exploiting trusted platforms like app stores. As crypto adoption grows, more users are targeted, especially those unfamiliar with self-custody security practices.

How common are bait-and-switch scams on app stores?

Apple said it removed or rejected over 17,000 apps for bait-and-switch violations in 2024. This shows the tactic is widespread and remains a persistent threat for users.

Apple removes fake Ledger app after $9.5M theft

Written by Mahathir BayenaPublished Apr. 15 2026Last Updated Apr. 15 2026

Apple has removed a malicious app impersonating Ledger Live after more than 50 victims lost a combined $9.5 million in a crypto scam.

The company said it terminated the developer, SAS Software Company, after discovering the app used a bait-and-switch tactic to trick users into revealing their seed phrases.

Apple said the developer used a “bait-and-switch strategy” to deceive users into installing a fake wallet app and exposing sensitive credentials.

Onchain investigator ZachXBT found the scam affected users between April 7 and 13, with losses concentrated among a small number of high-value victims.

The largest losses included $3.23 million in Tether, $2 million in USD Coin and nearly $2 million in Bitcoin, Ether and staked Ether.

Apple said it removed or rejected more than 17,000 apps for similar bait-and-switch violations in 2024, highlighting the scale of the issue on its platform.

The incident underscores ongoing risks for crypto investors using third-party app stores, as increasingly sophisticated scams continue to bypass review processes and target self-custody wallet users.

At the time of reporting, Bitcoin price was $73,958.44.