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Apple Removes Fake Crypto Wallet App That Stole $9.5 Million From Mac Users

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A fake Mac app designed to look like the real thing snuck past Apple's app review team, costing users $9.5 million in cryptocurrency.

Mac App Store General Feature
According to CoinDesk, a fake macOS version of the Ledger Live crypto wallet app scammed people into handing over access to their cryptocurrency wallets. More than 50 people fell victim to the fake app between April 7 and April 13.

Ledger has an official Mac app, but it is distributed via the Ledger website and not through the Mac App Store. The real app does not ask users to enter their seed phrases like the fake app did, nor do other legitimate cryptocurrency apps. The stolen money was routed through the KuCoin crypto exchange, and hackers used a mixing service known as AudiA6, which charges high fees to launder cryptocurrency.

Three of the victims lost seven-figure sums, which is an unusually high amount of money to lose in a fake app scam. ZachXBT, who investigated the scam and shared the info on Telegram, suggested Apple could be subject to a class-action lawsuit in the future due to the amount of money lost.

Apple removed the fake Ledger Live app from the ‌Mac App Store‌, but it was live for approximately two weeks. It is not known how it passed Apple's app review process, and Apple hasn't commented.

Tags: Cryptocurrency, Mac App Store

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Top Rated Comments

HouseLannister Avatar
HouseLannister
3 days ago at 11:52 am
Did Apple take 30%? 🤣
Score: 51 Votes (Like | Disagree)
jarman92 Avatar
jarman92
3 days ago at 11:53 am

Why is that nobody is responsible for their own actions anymore? If app asks for stuff it’s not supposed to, you should stop not plow ahead
Because Apple swears up and down that the App Store is safe and their arbitrary and capricious review process is absolutely necessary to protect against exactly this scenario.
Score: 47 Votes (Like | Disagree)
R
RHutch
3 days ago at 11:53 am
And this is why we have the App Store. Because only Apple can keep us safe.

Oh, wait.
Score: 32 Votes (Like | Disagree)
lostczech Avatar
lostczech
3 days ago at 12:00 pm
Apple's arguments against 3rd party app stores is going up in smoke
Score: 30 Votes (Like | Disagree)
WarmWinterHat Avatar
WarmWinterHat
3 days ago at 11:56 am

Why is that nobody is responsible for their own actions anymore? If app asks for stuff it’s not supposed to, you should stop not plow ahead
Apple pretty clearly says that they handle all that:


The App Store is a trusted place where users can safely discover and download apps. On the App Store, apps come from identified developers who have agreed to follow Apple guidelines, and are securely distributed to users with cryptographic guarantees against modification. Every single app and each app update is reviewed to evaluate whether it meets requirements for privacy, security, and safety. This process, which is being constantly improved, is designed to protect users by keeping malware, cybercriminals, and scammers out of the App Store.
https://support.apple.com/guide/security/about-app-store-security-secb8f887a15/web
Score: 28 Votes (Like | Disagree)
sw1tcher Avatar
sw1tcher
3 days ago at 12:04 pm

Three of the victims lost seven-figure sums, which is an unusually high amount of money to lose in a fake app scam. ZachXBT, who investigated the scam and shared the info on Telegram, suggested Apple could be subject to a class-action lawsuit in the future due to the amount of money lost.
They should be. Apple claims they review all apps for safety, security, and privacy. The fault of allowing yet another ('https://www.macrumors.com/2021/03/30/bitcoin-scam-app-costs-iphone-user-life-savings/') scam crypto app ('https://www.macrumors.com/2022/07/29/app-store-fake-crypto-apps-letter/') onto the Apple App Store lies with Apple.
Score: 18 Votes (Like | Disagree)
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