Apple Approves Two Scam-Like Bitcoin Apps Again, Due Diligence in Question
Recently Apple approved two applications called Ocean and AlphaWallet that are structurally designed to steal Bitcoin from users. Although Apple has been removing a substantial number of suspicions apps on its app store, the consistent emergence of obvious scam applications are beginning to concern the Bitcoin community. IPhone and other Apple device users have had serious issues with scam Bitcoin applications on the Apple App store that are designed to extract and steal user funds. The company’s inability to filter scam-like apps is creating a poor ecosystem for Bitcoin users. Legitimate....
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According to an Apple Insider report published on August 9, a disturbing trend has emerged on Apple’s App Store as a series of malicious copycats of well-known Bitcoin wallet apps became available to download. Some of the fake wallets looked quite similar to the real thing but were specifically tweaked to steal bitcoins from unsuspecting users. As a result some $20,000 reportedly ended up in the pockets of scam artists before Apple was able to filter and remove the apps from its store. The relative “success” of the fake apps and the ease at which they were manufactured and distributed, for....
Apple has approved a bitcoin wallet app for the iPhone and iPad, though not without a key restriction: App users will not be able to send BTC. bitWallet, made by a company called Sollico, is now available in the Apple App Store. The listing is notable given the struggles of high-profile bitcoin wallet providers such as Coinbase and Blockchain to have their apps remain in the store. Both companies saw their apps removed in events that outraged the wider bitcoin community. A company representative from Sollico says it submitted the wallet to Apple under the notion that it might be approved....
Bitple's Interface. Apple has recently approved Bitple for the App Store. Bitple is a virtual Bitcoin trading simulator that allows users to experience trading Bitcoin with fake money. The user is given $10,000 of play money and is then left on their own to create buy and sell orders and to try to generate a profit from trading Bitcoin. Apple has had a very strictAnti-Bitcoin policy since late 2013. There have not been a Bitcoin wallet available since February 6th when the last remaining wallet called Blockchain was removed from the store. The terms and conditions of the App Store state:....
Fake bitcoin wallet apps have emerged in the Apple iTunes App Store, potentially putting bitcoin accounts at risk and reinforcing the need for people to make sure they are downloading apps from official wallet websites, according to Kyt Dotson, a senior editor at Silicon Angle. A representative of Breadwallet, a bitcoin app available in App Store and Google Play, has posted a notice on Reddit listing a number of fake bitcoin wallet apps in the iTunes App store, calling into question Apple’s vetting process. The fake apps have names similar to the official mobile wallet apps, but they can....
For the time being, Bitcoin and other cryptocurrencies remain a high-value target for criminals. Fake Bitcoin wallets are a real threat to the cryptocurrency ecosystem. Mainly the Apple App Store seems to allow illegitimate wallets more often than not. A total of six new false wallets has been added to the Apple App Store over the past few days. Bitcoin users need to be aware of these issues and make sure they only install legitimate offerings. Six new malicious wallets on the Apple App Store is quite a significant development. Not in a positive manner by any means, though, as the....