Jul 2021 - 1Inch Exchange Fake Mobile Application Brandon Larsen - $384k (United States)
"The trader wanted to download the app for 1inch, an exchange for Ethereum - a type of blockchain currency.
"The crypto fanatic shared a screenshot of his account two hours before to show his wife the progress he had made trading the volatile currency."
"Balance = $384,006 in this wallet. Total balance in all wallets was about $691,000," he explained."
"[U]nfortunately the actual app he downloaded was a similar-looking scam."
"And 2 Hours Later…$0 Everything taken. It took them 3 minutes to clean me out."
"Brandon Larsen, from Utah, was left devastated after ruthless hackers wiped more than half of his £506,000 (USD$700,000) crypto fortune in minutes."
“Unfortunately it was a lookalike app and I gave access to my digital wallet to a hacker," he told KUTV.
"I’ve shed a lot of tears, I’m not going to lie," said Brandon.
"Obviously this is devastating. Not only the immediate loss but the potential of the cryptocurrencies I had in the wallet will be worth no less than $1MILLION dollars in 2021," he wrote.
Further Analysis
Brandon Larsen went to download an application for the 1Inch Exchange, and instead downloaded a malicious application which likely requested his seed phrase. In a few minutes, his cryptocurrency was all taken.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
AnySwap ECDSA Exploit > > < < Helios Cash Runs Off
Sources/Further Reading
Tradegrow comments on A MAN lost £278,000 in a crypto scam after he handed over his digital wallet to a hacker on a fake app. Brandon Larsen, from Utah, was left devastated after ruthless hackers wiped more than half of his £506,000 (USD$700,000...utes. (Dec 31)
A MAN lost £278,000 in a crypto scam after he handed over his digital wallet to a hacker on a fake app. Brandon Larsen, from Utah, was left devastated after ruthless hackers wiped more than half of his £506,000 (USD$700,000) crypto fortune in mi...rency (Dec 31)
I lost £278,000 in cryptocurrency scam after being tricked by fake trading app that gave hackers my 'digital wallet' | The Sun (Dec 31)
1inch Network | Leading high capital efficient DeFi protocols (Dec 31)
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