Blockchain investigator ZachXBT traced the stolen funds to addresses linked to KuCoin across multiple transactions. The incident is part of an overall rise in crypto-related fraud, with the Federal Bureau of Investigation reporting over $11 billion in losses in 2025.
G. Love Loses $420K in Bitcoin
American musician Garrett Dutton, who is also known as G. Love, revealed that he lost approximately $420,000 worth of Bitcoin after falling victim to a sophisticated phishing scam involving a fake crypto application.
The attacker reportedly impersonated the popular self-custody wallet interface Ledger Live, and distributed a malicious version through what appeared to be a legitimate source. After downloading the app onto his new Apple laptop, Dutton unknowingly entered his seed phrase, effectively handing over full access to his wallet. Within moments, the entirety of his 5.9 Bitcoin holdings was drained.
The stolen funds were later traced by blockchain investigator ZachXBT, who identified that the Bitcoin was split across multiple transactions and sent to deposit addresses associated with the exchange KuCoin. KuCoin eventually acknowledged the situation in a generic customer response.
X post from ZackXBT
Dutton publicly shared his experience on social media, and described the incident as a harsh lesson despite his years of experience in the crypto space. He admitted that the breach occurred due to a lapse in caution, and explained how even seasoned participants can be caught off guard by increasingly convincing scams.
The incident now forms part of a worrying trend that was pointed out by the Federal Bureau of Investigation, which reported that Americans lost over $11 billion to crypto-related fraud in 2025 alone. This was a big increase from the previous year. The surge reflects both the growing adoption of cryptocurrencies and the parallel rise in malicious activity targeting users.
This is not the first time fake wallet applications have slipped through platform review systems. Similar incidents happened in 2023 when fraudulent versions of Ledger Live appeared on Microsoft’s app store, which led to hundreds of thousands of dollars in losses before being removed.
Overall, these recurring breaches prove that there are still vulnerabilities in app distribution channels and reinforce the importance of verifying software sources, especially when it comes to dealing with sensitive financial tools like crypto wallets.
Source: https://coinpaper.com/16192/musician-g-love-loses-bitcoin-in-ledger-live-scam
