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Apple removed the fake Trezor app numerous times, but it kept appearing on the App Store days later.
This scam cryptocurrency app on Apple’s app distribution service App Store has reportedly stolen $600,000 Bitcoin from one iOS user.
Crypto holder Phillipe Christodoulou befell victim to a scam app on the App Store, losing almost all his life savings to a fake cryptocurrency wallet application, The Washington Post publishes Tuesday.
Christodoulou went on the App Store last month to seek a mobile Trezor app to check his Bitcoin balance via phone. Unknowing that Trezor does not currently provide an iOS app, Christodoulou downloaded a doppelgänger Trezor application that claimed close to five stars, giving the impression that it was indeed an official app. After he entered his seed phrase, Christodoulou said that his savings of 17.1 BTC were stolen.
Christodoulou said that Apple, which gets 15% to 30% commissions on sales, should be held accountable for this situation. “They betrayed the trust that I had in them. Apple does not deserve to get away with this,” he stated. According to the Washington Post, Christodoulou filed a report with the Federal Bureau of Investigation (FBI).
Following a warning from Trezor, Apple removed the fake Trezor app numerous times, but it kept appearing on the App Store days later.
The cryptocurrency community is slightly divided on whether Apple should be blamed for the accident. “This is a f*cking nightmare. Scammed by a fake Trezor app in the ‘curated and safe’ Apple App Store,” cryptocurrency investor Scott Melker said on Twitter.
Jameson Lopp who is the co-founder of cryptocurrency custody platform Casa said, “Stop entering seed phrases into the software. Simply enter seeds into dedicated Bitcoin hardware devices.”
Fake crypto wallets and also trading apps have appeared on the App Store before. The United Kingdom-based cryptocurrency intelligence company Coinfirm said that five people have reported having their cryptocurrency stolen by a fake Trezor app on iOS, with total losses estimated at $1.6 million.
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Trezor has also cautioned users about fraudulent doppelgänger apps on the Google Play Store.
What should all of us do, if we don't want to fall into this trap?
I will love to hear your comments
Written by @cryptocheta
#Bitcoin #Cryptocurrencies #Apple #AppStore #Fraud #Business #Security
#Wallet #Trezor #BitcoinScams #Applications