Blown fuse on the 480V input, making the input EFFECTIVELY single phase? I've seen it happen, albeit on a VFD that was sufficiently over sized to avoid tripping on excess DC bus ripple. Some VFD mfrs put Phase Loss detection on drives designed for 3 phase input, some rely on DC bus ripple monitoring instead. Allen Bradley drives for example will not trip off line on a blown input fuse if the load on the drive is low enough (50% or less of the VFD rating) to avoid excess ripple. On several occasions where people have complained about drives tripping on DC bus ripple, I have found blown fuses. The users ASSUMED the drive would trip on Phase Loss, so they ASSUMED the fuses were good, but there is no Phase Loss Detection on an AB drive. If the drive was over sized, or the load was low, they will continue on as if nothing is wrong.
But IF, at that time, you read the input current and the output current, I now believe the input WILL be roughly 2X* the output current
*(Prior to last month I would have said 1.732x, but I have learned my lesson... :slaphead