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Investor Loses R$ 4.9 Million in Bitcoin with Fake Wallet
An investor, identified as Jimmy, suffered a loss of 7.4 Bitcoins, equivalent to R$ 4.9 million, after downloading a fake cryptocurrency wallet app from the App Store last Friday (25). The malicious app, called “Sparrow Multi-Sig,” was an identical copy of a legitimate desktop wallet, which does not have a version for smartphones.
Despite having his funds in a Coldcard hardware wallet, Jimmy's fatal mistake was entering the 12-word seed phrase into an external app, which allowed the theft of his Bitcoins.