Companies always advise their users to download apps only from Google Play Store or Apple App Store to prevent fake apps from entering into their phones. But the situation can get different if a fake app gets approved through a verified app store. Something similar happened with an iPhone user, who has lost his life savings, as he downloaded a fake Bitcoin app from the Apple App Store. The user lost at least $60000 during the time of theft.
According to reports, an iPhone user, Phillipe Christodoulou, opted for checking his bitcoin balance. He was looking for an app called Trezor on the App Store. He found an app with a Trezor logo and a green background. Without any background checking, he opted for downloading the app and signed in with his credentials. Just before realizing that the app was not genuine, he already lost all his bitcoin savings.
This fake Trezor app comes with almost a similar design to look like the original Trezor app. However, the app maker has created this app to fool bitcoin owners and rob their savings. But the question is how did this fake app manage to clear the review process of Apple. Usually, Apple reviews all its apps that are submitted to the App Store before rolling it out as an app on the platform.
While acknowledging this gaffe, Apple said that this fake Trezor app told the company that it has nothing to do with cryptocurrency; rather, it is a cryptography app. It said that it is going to encrypt iPhone files and store passwords.
However, as the app got submitted, it converted itself into a cryptocurrency app, and Apple failed to detect it.
The spokesperson of Apple, Fred Sainz, said, “User trust is at the foundation of why we created the App Store, and we have only deepened that commitment in the years since. Study after study has shown that the App Store is the most secure app marketplace in the world, and we are constantly at work to maintain that standard and to further strengthen the App Store’s protections. In the limited instances when criminals defraud our users, we take swift action against these actors as well as to prevent similar violations in the future.”
Apple has now opted for removing this fake Trezor app from its App Store after it got reported multiple times by the original company of Trezor. It has also been reported that another fake cryptocurrency app is popping up these days after Apple removed the fake Trezor app. However, Apple successfully removed that too.