Saturday, December 4, 2021
HomeBitcoin NewsBogus Trezor iOS App Snares Investor’s USD 1M Bitcoin Savings

Bogus Trezor iOS App Snares Investor’s USD 1M Bitcoin Savings

A bitcoin (BTC) investor who says he lost over BTC 17 (USD 0.99m) to scammers has hit out at Apple for hosting a fake app on its store that allowed criminals to make off with his “life savings.”

Speaking to the Washington Post, the investor, a Trezor wallet user named Phillipe Christodoulou, explained how he had wanted to use a Trezor app to check his BTC balance. He proceeded to search the App Store on his iPhone for a Trezor app. He recounted that when he came across a bona fide-looking app with a “nearly five-star rating” bearing what appeared to be the Trezor logo, he downloaded it and entered all his credentials.

“In less than a second,” wrote the media outlet, the tokens were gone – and Christodoulou understood he had been duped by scammers who had devised a clever means to trick people into handing them full access to their crypto holdings.

But Christodoulou has laid the blame at the tech giant’s door, with the Washington Post writing: “He says Apple marketed the App Store as a safe and trusted place, where each app is reviewed before it is allowed in the store.”

He said,

Lopp himself warned that crypto users should “stop entering seed phrases into software,” and instead “only enter seeds into dedicated bitcoin hardware devices.”

“I thought Apple was meant to verify all apps on their store. That’s usually the reason people give me for not using Android. Looks like Apple aren’t interested in doing that now,” another user wrote.

Others were less quick to point the finger at Apple, with one opining,

RELATED ARTICLES

Most Popular