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Fake Bitcoin wallet apps removed from the App Store

09 August 2016 0

Apple has removed a number of fake Bitcoin wallet apps that reportedly got successful in stealing a minimum of $20,000. These fake apps were first spotted by Breadwallet app developer, a legit Bitcoin wallet app. He reported about a few of them in a Reddit post which possessed names and logos similar and sometimes even exactly same as other legit apps.

The developer mentioned about a few users who complained about those fake apps and their funds getting stolen. One of the users reported about losing $10,000 alone and when the coin address where these coins were deposited were last tracked, he discovered $20,000 amount being listed there.

As you would expect, the developer reported a fake app of its own Breadwallet app to Apple and since then, the Cupertino-based tech giant has removed all of these fake Bitcoin wallet apps that were getting successful in fooling people.

While the situation seems to be under control for now, it has certainly raised a few questions over Apple's vetting system and its ability to identify such scam apps which have been making their way to the App Store for quite some time now. Many of such fake apps have been found to be belonging to Finance category which means they are more dangerous when it comes to users' financial details.

In an official statement, Breadwallet co-founder Aaron Voisine said,

"We talked with one customer who claims to have lost about $10,000, and if we go an look at the coin address where those coins were deposited, last I checked there was $20,000 listed at that address. So, that's our current estimate for how much customers have lost. I think it would be good for Apple to go through some extra process to make sure they have the identity of the person posting any app in the finance section."


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