Brandon Larsen was out for a meal with his wife when he first noticed something must be wrong. Larsen was in the habit of constantly checking his phone, particularly his cryptocurrency wallet. Except this time, it was empty. It must have been a mistake. He frantically restarted his phone and reopened the app – but the little black number still read zero.
“In that moment, your gut is in your throat and you realise you just got robbed,” he recalls. “With cryptocurrency, I knew enough to know I would likely never see one cent of it ever again.”
Earlier that day Brandon had tried logging into what he thought was the Android app of the cryptocurrency exchange site he used, 1inch Exchange.
“I didn’t see any red flags because… it looked exactly like the desktop version,” he explains.
But the app was a fake and asked for his private key – a code that verifies your identity in trades and gives access to…