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Last scraped
Scraped on 11/08/2025, 16:16:31 UTC
A bitcoin investor who has been in the game since 2017 claims to have lost his life savings of 7,4 BTC to a scam a few weeks ago.
He calls himself Bitcoin Jimmy on X. This Jimmy believed he was downloading a genuine version of a Sparrow Wallet app for his iPhone from the App Store. In reality, it was fake software designed to steal crypto after you import your seed. Sadly, Jimmy fell victim to one of the oldest social engineering schemes in cryptocurrency. Somehow, Apple allowed this fake app on its platform, and Jimmy trusted it without verifying its existence on Sparrow Wallet's official website.
This isn't the first time Jimmy has had difficulties and made wrong decisions. He lost Bitcoin when Celsius collapsed back in 2022.
Bitcoin Jimmy has been in Bitcoin for many years, but he has sadly not devoted enough time to learn the basics to keep his money safe. He even confirmed that he was using a Coldcard Q coupled with Sparrow Wallet on his desktop. Still, he believed importing his seed into a hot wallet (genuine or not) and destroying his cold storage in the process was a good idea.
This unfortunate incident could easily have been prevented. What could Bitcoin Jimmy have done better, and what can you do to protect yourself?
- Coldcard is an airgapped hardware wallet. Your seed is offline with it. He should never have imported it into a hot wallet, regardless of which one.
- Bitcoin Jimmy should have done due diligence and checked personally if the Sparrow Wallet on the App Store was a legitimate software mentioned on Sparrow's website.
- His Coldcard + Sparrow Wallet (desktop) setup was already working. He shouldn't have substituted security for convenience by trying to set up a mobile wallet in such a bad way.
- Bitcoin Jimmy should have learned how to set up a companion app for his cold storage properly. It makes me wonder how he did it originally with his Sparrow Wallet.
- Jimmy should have asked questions before acting and downloading fake software.
Here is an image that he posted of the fake app that he downloaded:
Sad and unfortunate that this is, beginners can still learn from Jimmy's mistake and do better if and when they find themselves in a similar situation.
You can read his entire story below:
https://x.com/Bitcoin4Jimmy/status/1950617736373006823
He calls himself Bitcoin Jimmy on X. This Jimmy believed he was downloading a genuine version of a Sparrow Wallet app for his iPhone from the App Store. In reality, it was fake software designed to steal crypto after you import your seed. Sadly, Jimmy fell victim to one of the oldest social engineering schemes in cryptocurrency. Somehow, Apple allowed this fake app on its platform, and Jimmy trusted it without verifying its existence on Sparrow Wallet's official website.
This isn't the first time Jimmy has had difficulties and made wrong decisions. He lost Bitcoin when Celsius collapsed back in 2022.
Bitcoin Jimmy has been in Bitcoin for many years, but he has sadly not devoted enough time to learn the basics to keep his money safe. He even confirmed that he was using a Coldcard Q coupled with Sparrow Wallet on his desktop. Still, he believed importing his seed into a hot wallet (genuine or not) and destroying his cold storage in the process was a good idea.
This unfortunate incident could easily have been prevented. What could Bitcoin Jimmy have done better, and what can you do to protect yourself?
- Coldcard is an airgapped hardware wallet. Your seed is offline with it. He should never have imported it into a hot wallet, regardless of which one.
- Bitcoin Jimmy should have done due diligence and checked personally if the Sparrow Wallet on the App Store was a legitimate software mentioned on Sparrow's website.
- His Coldcard + Sparrow Wallet (desktop) setup was already working. He shouldn't have substituted security for convenience by trying to set up a mobile wallet in such a bad way.
- Bitcoin Jimmy should have learned how to set up a companion app for his cold storage properly. It makes me wonder how he did it originally with his Sparrow Wallet.
- Jimmy should have asked questions before acting and downloading fake software.
Here is an image that he posted of the fake app that he downloaded:
Sad and unfortunate that this is, beginners can still learn from Jimmy's mistake and do better if and when they find themselves in a similar situation.
You can read his entire story below:
https://x.com/Bitcoin4Jimmy/status/1950617736373006823
Original archived BTC Investor Losses 7,4 BTC with Fake Sparrow Wallet Mobile App
Scraped on 04/08/2025, 16:16:57 UTC
A bitcoin investor who has been in the game since 2017 claims to have lost his life savings of 7,4 BTC to a scam a few weeks ago.
He calls himself Bitcoin Jimmy on X. This Jimmy believed he was downloading a genuine version of a Sparrow Wallet app for his iPhone from the App Store. In reality, it was fake software designed to steal crypto after you import your seed. Sadly, Jimmy fell victim to one of the oldest social engineering schemes in cryptocurrency. Somehow, Apple allowed this fake app on its platform, and Jimmy trusted it without verifying its existence on Sparrow Wallet's official website.
This isn't the first time Jimmy has had difficulties and made wrong decisions. He lost Bitcoin when Celsius collapsed back in 2022.
Bitcoin Jimmy has been in Bitcoin for many years, but he has sadly not devoted enough time to learn the basics to keep his money safe. He even confirmed that he was using a Coldcard Q coupled with Sparrow Wallet on his desktop. Still, he believed importing his seed into a hot wallet (genuine or not) and destroying his cold storage in the process was a good idea.
This unfortunate incident could easily have been prevented. What could Bitcoin Jimmy have done better, and what can you do to protect yourself?
- Coldcard is an airgapped hardware wallet. Your seed is offline with it. He should never have imported it into a hot wallet, regardless of which one.
- Bitcoin Jimmy should have done due diligence and checked personally if the Sparrow Wallet on the App Store was a legitimate software mentioned on Sparrow's website.
- His Coldcard + Sparrow Wallet (desktop) setup was already working. He shouldn't have substituted security for convenience by trying to set up a mobile wallet in such a bad way.
- Bitcoin Jimmy should have learned how to set up a companion app for his cold storage properly. It makes me wonder how he did it originally with his Sparrow Wallet.
- Jimmy should have asked questions before acting and downloading fake software.
Here is an image that he posted of the fake app that he downloaded:
Sad and unfortunate that this is, beginners can still learn from Jimmy's mistake and do better if and when they find themselves in a similar situation.
You can read his entire story below:
https://x.com/Bitcoin4Jimmy/status/1950617736373006823
He calls himself Bitcoin Jimmy on X. This Jimmy believed he was downloading a genuine version of a Sparrow Wallet app for his iPhone from the App Store. In reality, it was fake software designed to steal crypto after you import your seed. Sadly, Jimmy fell victim to one of the oldest social engineering schemes in cryptocurrency. Somehow, Apple allowed this fake app on its platform, and Jimmy trusted it without verifying its existence on Sparrow Wallet's official website.
This isn't the first time Jimmy has had difficulties and made wrong decisions. He lost Bitcoin when Celsius collapsed back in 2022.
Bitcoin Jimmy has been in Bitcoin for many years, but he has sadly not devoted enough time to learn the basics to keep his money safe. He even confirmed that he was using a Coldcard Q coupled with Sparrow Wallet on his desktop. Still, he believed importing his seed into a hot wallet (genuine or not) and destroying his cold storage in the process was a good idea.
This unfortunate incident could easily have been prevented. What could Bitcoin Jimmy have done better, and what can you do to protect yourself?
- Coldcard is an airgapped hardware wallet. Your seed is offline with it. He should never have imported it into a hot wallet, regardless of which one.
- Bitcoin Jimmy should have done due diligence and checked personally if the Sparrow Wallet on the App Store was a legitimate software mentioned on Sparrow's website.
- His Coldcard + Sparrow Wallet (desktop) setup was already working. He shouldn't have substituted security for convenience by trying to set up a mobile wallet in such a bad way.
- Bitcoin Jimmy should have learned how to set up a companion app for his cold storage properly. It makes me wonder how he did it originally with his Sparrow Wallet.
- Jimmy should have asked questions before acting and downloading fake software.
Here is an image that he posted of the fake app that he downloaded:
Sad and unfortunate that this is, beginners can still learn from Jimmy's mistake and do better if and when they find themselves in a similar situation.
You can read his entire story below:
https://x.com/Bitcoin4Jimmy/status/1950617736373006823