A scam crypto app on App store steals $600k worth of BTC from user
Cryptocurrencies have become an excellent investment option for millions of people globally. However, one of the most challenging aspects of cryptocurrency investment is securing your coins as scammers and fraudsters target users and their coins. This time, a fake cryptocurrency app stole $600k worth of bitcoins from an unsuspecting user.
Fake app steals $600k worth of BTC from a victim
A scam crypto app on Apple’s app distribution service App Store stole bitcoins worth roughly $600,000 from an iOS user. In a report by The Washington Post yesterday, crypto holder Phillipe Christodoulou blamed Apple for the incident.According to the report, Christodoulou visited the iOS App Store last month to search for a Trezor mobile app to check his BTC balance with his phone. However, Christodoulou doesn’t know that Trezor didn’t have an iOS app at the moment. The app had numerous five-star reviews, indicating that it is the crypto wallet provider’s official app.
After providing his seed phrase, Christodoulou claimed that the hacker stole his 17.1 BTC. The victim added that Apple should be held responsible for the situation as the tech giant collects 15% to 30% commissions on sales. He added that “They betrayed the trust that I had in them. Apple doesn’t deserve to get away with this.”
Apple had always tagged its App Store as the world’s most trusted marketplace for apps. The tech giant claims that it scans and reviews each app submission to ensure they are safe, secure, unique, and useful.
Christodoulou filed a report with the FBI following this incident. Apple proceeded to remove the fake Trezor app several times after it was alerted by Trezor. However, the app kept appearing on the App Store days later, with experts claiming that it was easy for scammers to circumvent Apple’s rules.
The victim gets varying opinions from other traders
The cryptocurrency community had varying reactions to this latest incident. According to some traders and investors, the victim is to blame as it is a simple rule not to insert seed phrase in any software. Seed phrases should only be provided to dedicated Bitcoin hardware devices.Others blamed Apple as they believe the company should live up to its mantra of high-end security.
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