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Just recently, an individual lost all of their savings in no time after downloading a malicious and bogus Trezor app on their iOS smartphone from the Apple App Store. Phillipe Christodoulou lost 17.1 bitcoins, or over $ 1 million worth of cryptocurrency using current exchange rates. Christodoulou explained that he was angrier with Apple than the hackers who stole his precious digital assets.
An individual loses his savings – 17 Bitcoin Gone
Malicious and bogus apps for smartphones can be a problem for crypto users and it wasn’t too long ago that Phillipe Christodoulou lost over 17 BTC. At the time of the theft, his stash was worth over $ 600,000, and today it was well over $ 1 million. On this particular occasion, Christodoulou wanted to check his balance, so he went to the Apple App Store and downloaded the fake Trezor app for iOS. However, Trezor does not offer such an app and in fact the company has been warning about the issue for some time now.
On December 2, 2020, the manufacturer of the hardware wallet tweeted about a similar scam app on the Google Play Store. “A warning to all Android users with Trezor devices,” the company then warned. “This app is a scam and has nothing to do with SatoshiLabs and Trezor. We have already reported this to the Google team. Always confirm any action on your device and never enter any opening words until your Trezor asks you to. “
Coalition for App Fairness leader says ‘Apple pushes myths about user privacy and security’
The app that Christodoulou downloaded was not only a bogus lure, but malicious hackers also stole his funds. Christodoulou says he’s more passionate at Apple and was once a loyal Apple customer. “They betrayed the confidence I had in them,” Christodoulou detailed to the press. “Apple doesn’t deserve to get away with this.” Apple is believed to exercise due diligence and apps downloaded from the App Store are considered safe.
“Studies after studies have shown that the App Store is the most secure application market in the world,” said Apple spokesman Fred Sainz. However, according to a Washington Post report, Meghan DiMuzio, executive director of the Coalition for App Fairness, disagrees.
“Apple frequently pushes myths about user privacy and security as a shield against its anti-competitive practices on the App Store,” said DiMuzio. “The truth is, Apple’s security ‘standards’ are applied inconsistently across applications and are only applied when it benefits Apple.”
What do you think of the guy who lost 17 bitcoins due to the scam app? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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