Fake iOS app stole $ 1 million in bitcoin from a user

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User installs fake IOS app on the App Store and has 17 stolen bitcoins (BTC), equivalent to US$1 million.

A man recently lost all of his savings after storing his bitcoins (BTC) in a fake iOS app, downloaded from Apple’s App Store. Phillipe Christodoulou installed an app that allegedly belonged to Trezor, a maker of hardware wallets for cryptocurrencies. The loss was 17.1 BTC, equivalent to more than $ 1 million.

Christodoulou told the Washington Post that he was more upset with Apple than the hackers themselves for allowing a malicious application to be made available on the App Store. According to the victim, he looked for a simple application to check the balance of his digital wallet.

Trezor warned about fake apps

fake ios app
Source: ESET PT

Trezor had been warning about fake apps for some time. In a December 2020 Twitter post, the company issued an alert to all Android users and device owners of the manufacturer.

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“This app is a scam and has nothing to do with SatoshiLabs and Trezor. We’ve already reported it to the Google team”

Trezor has also reported on other occasions that there are more fake apps with her name on the Google Play Store. However, the presence of the malicious application in the Apple store had never been identified.

Victim feels betrayed by Apple

The app downloaded by Christodoulou was even more dangerous than common malware that steals data. Through it, hackers were able to access the victim’s bitcoin funds and send them to another digital wallet. The victim also claimed that Apple “betrayed the trust” he had in the company. “Apple doesn’t deserve to get away with this,” he said.

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According to company spokesman Fred Sainz, the Apple app store is “the safest app marketplace in the world”, but there are those who disagree. The executive director of the Coalition for App Equity, Meghan DiMuzio, told the Washington Post that Apple “often invents myths about users’ privacy and security” to hide its “anti-competitive practices” on the App Store.

With Washington Post informations

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The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
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Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
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