$384 000 USD

JULY 2021

UNITED STATES

1INCH EXCHANGE

DESCRIPTION OF EVENTS

"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.

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.

Sources And Further Reading

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