Apple App Store Allegedly Allows Scam Apps to Steal Users' Bitcoin— Spotting Fake Applications

An Apple user accused App Store of allowing a fake application to steal all his Bitcoin, which is worth around $600,000. He said that an application that he previously installed in February stole all his savings.

Scam iPhone Apps Remain on Apple App Store—Putting 7 Million Users At Risk! Install These Applications Now
A customer tries out the new Apple iPhone 5C smartphone at the Berlin Apple Store on the first day of sales on September 20, 2013 in Berlin, Germany. The new iPhone 5S and 5C phones went on sale all over the world today and hundreds of customers waited outside the Berlin store in the rain to be among the first to buy the new phones starting at 8am. Photo by Sean Gallup/Getty Images

Phillipe Christodoulou, the Bitcoin owner, explained that the app that he was going to use was supposed to be connected with Treznor, a cryptocurrency storage device developer. But, he discovered that it was a fake one and was not associate with Treznor.

After Christodoulou installed the app, it was able to effectively steal all of his money and provided it to the scammers and other hackers. He discovered the issue when he opened his Treznor wallet, finding out that his stored funds are no longer there.

"They betrayed the trust that I had in them," said Christodoulou via Apple Insider's latest report. "Apple doesn't deserve to get away with this."

Did Apple App Store really allow it?

Apple defended itself from the accusation. The tech giant manufacturer said that the fake app was able to bypass its security by changing its purpose after it was published on the app store.

Scam iPhone Apps Remain on Apple App Store—Putting 7 Million Users At Risk! Install These Applications Now
The new iPhone 5S with fingerprint technology is displayed during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched the new iPhone 5C model that will run iOS 7 is made from hard-coated polycarbonate and comes in various colors and the iPhone 5S that features fingerprint recognition security. Photo by Justin Sullivan/Getty Images

The giant tech firm added that the app claimed that it is not involved in any cryptocurrency, which fooled the Apple App Store to allow it to appear from Jan. 22 until the day of the incident.

"User trust is at the foundation of why we created the App Store, and we have only deepened that commitment in the years since," explained Fred Sainz, Apple's spokesman.

Spotting a fake app

AT&T Business explained that there are various ways that people can identify a fake application. Here are the specific things you need to check:

  • Review the app's name.
  • Always check the reviews, especially the comment section.
  • Check the date when it was published.
  • If it is a paid app, always check if it offers a discount.
  • Look for screenshots that show the app's features.
  • Always read the description before installing the app.
  • Check the number of downloads.
  • Review the app's permission policy.

If you want to know more details about these methods, all you need to do is click here.

For more news updates about Apple and its security flaws, always keep your tabs open here at TechTimes.

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Written by: Giuliano de Leon

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