App StoreAppleApplicationsBitcoin ScamsCointelegraph.comCryptocurrenciesFraudsecurityTrezorwallet

iPhone user blames Apple for $600K Bitcoin theft via fake app

Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later.
A scam cryptocurrency app on Apple’s app distribution service App Store has reportedly stolen $600,000 Bitcoin (BTC) from one iOS user.Cryptocurrency holder Phillipe Christodoulou fell victim to a scam app on the App Store, losing nearly all his life savings to a fake crypto wallet application, The Washington Post reports Tuesday.Christodoulou went on the App Store last month to search for a mobile Trezor app to check his Bitcoin balance via phone. Unaware that Trezor does not currently provide an iOS app, Christodoulou downloaded a doppelgänger Trezor application that boasted close to five stars, giving the impression that it was indeed an official app. After entering his seed phrase, Christodoulou said that his savings of 17.1 BTC were stolen.Christodoulou said that Apple, which collects 15% to 30% commissions on sales, should be held responsible for this situation. “They betrayed the trust that I had in them. Apple doesn’t deserve to get away with this,” he stated. According to the Washington Post, Christodoulou filed a report with the Federal Bureau of Investigation.Following notification from Trezor, Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later.The crypto community issomewhat divided on whether Apple should be blamed for the accident. “This is a f*cking nightmare. Scammed by a fake Trezor app in the ‘curated and safe’ Apple App Store,” crypto investor Scott …
Story continues on Cointelegraph

Related posts
Cointelegraph.comNFTNonfungible Tokens

Swiss startup launches tokenized grain trading pilot

Tokenization of real-world commodities could drastically reduce trading costs, says one Swiss startup as it pilots a new non-fungible token system. A Swiss agricultural startup has piloted the use of a non-fungible token for cutting down the costs of trading…
BitcoinBTC priceCointelegraph.comFundingliquidation

Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs

A flash crash on short timeframes for BTC/USD induces panic among long traders, but for analysts, it’s business as usual. Bitcoin (BTC) fell over $2,000 in five minutes on March 31 as a wave of volatility disrupted an otherwise calm…
Adam BackBitcoin miningBlockstreamCointelegraph.comsecurity-tokenSTO

Adam Back unveils Blockstream’s new Bitcoin mining security token

Blockstream has announced the launch of a new security token backed by the company’s mining facilities. Canadian-based Blockchain tech company Blockstream announced the launch of a security token backed by the company’s mining production on March 29. It offers an…