Bitcoin scam app on Apple's App Store dupes user into forking over $600,000 | Laptop Mag
Bitcoin scam app on Apple tree's App Store dupes user into forking over $600,000
Bitcoin's surge in popularity has seen a rise in fake apps scamming smartphone users. Even with Apple's focus on privacy and App Store security, false apps still manage to go past the review team and now, a recent victim is not happy.
A faux Bitcoin app launched on the App Shop, tricking iPhone user Phillipe Christodoulou into downloading it. After logging in, he immediately lost 17.1 Bitcoin, worth over $600,000 at the time.
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As reported by The Washington Mail, Christodoulou is angrier at Apple for letting the app be available on the App Store in the commencement place. The faux app was designed to expect exactly like a "Trezor" app — a company that makes small hardware devices Christodoulou uses to store his cryptocurrency.
According to the article, Apple tree stated the fake Trezor app got through the App Store through a allurement-and-switch. Information technology was called Trezor and used the brand's logo and colours, simply was referred to every bit a "cryptography" app that would encrypt iPhone files and store passwords. Apple tree canonical the app, and now Christodoulou has lost over $600,000.
Subsequently the Trezor visitor reported the fake Bitcoin app, Apple removed information technology from the App Store and banned the developer. That wasn't the end of information technology, however, as another faux Trezor app popped up two days later. Thankfully, Apple tree took it down well-nigh immediately.
Apple makes a big deal over its Apps Store's privacy and security, even specifically stating that information technology's "a safe and trusted place to discover and download apps." The visitor also claims that more than than 500 dedicated experts around the world review over 100,000 apps.
Only despite their efforts, the false Bitcoin app still slipped under the radar. Co-ordinate to marketing intelligence company Sense Tower, the app was downloaded 1,000 times on both the App Store and on Android'south Google Play Store. Yikes.
Unfortunately, this isn't the first time a Bitcoin scam app has tricked users into handing over highly-valued cryptocurrency. The article also revealed another victim who lost $14,000 worth of Ethereum and Bitcoin past downloading a simulated Trezor app on his iPhone.
If y'all're on the hunt to buy Bitcoin and are an avid iPhone user, let it be known that there is no Trezor app for iOS.
While Apple may have a strict policy on its App Store (the tech giant claims to accept rejected over one million app submissions due to illegal content), this unfortunate scam goes to show information technology'south worth doing your own groundwork bank check. Who wants to be $600,000 out of pocket?
Source: https://www.laptopmag.com/news/bitcoin-scam-app-on-apples-app-store-dupes-user-into-forking-over-dollar600000
Posted by: heitmannhation1977.blogspot.com
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