Home Brands APPLE Apple let a knockoff version of one of the world’s biggest crypto wallets into the App Store
Apple let a knockoff version of one of the world’s biggest crypto wallets into the App Store

Apple let a knockoff version of one of the world’s biggest crypto wallets into the App Store

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In a bizarre turn of events, an app disguised as MyEtherWallet.com found its way to the top of the iOS App Store. MyEtherWallet.com is one of the largest internet services that stores ETH and some of the cryptocurrencies.

Due to the initial downloads, the application came to number three in the Finance category chart of the App Store. This followed the bitcoin activities that witnessed exchange Coinbase surge to the top on the Apple’s free download list in the United States. All this was going on without MyEtherWallet.com’s knowledge until it was noticed this weekend.

The fake app developer is listed as Nam Le but has no any relations with MyEtherWallet.com. He has three other iOS apps including the Panda Warrior and Mr. Beard but nothing related to the crypto currencies or bitcoin services.

The App Store has been able to identify and protect from such disguised apps before, but this one was recently detected. The developers of MyEtherWallet.com remarked in a tweet that they had reported to Apple to have the app removed. The App store has stringent security process for stopping malicious and fake apps getting into the App Store.

This keeps the vast majority of its clients safe. Based on that the creators are baffled and want to be told how this app went through their normal safety checks. It is in their interest and many of their customers to know what measures they will take it removed.

The app cost was $4.99 and was in the App Store for more than a week. Its marketing message focused on letting their customers create or import a wallet for cryptocurrencies. Once the download is complete, the App developer claims the saving keys on the device are designed to offer optimum safety guarantees.

The app requests for permission for information that is intrusive. This is dangerous as they were able to collect data that could be used for malicious actions.

Crypto wallet software allows you to store receive and send your ETH and crycoins. Its importance cannot be overstated. It requires having your public address that is used to send money to. There is a private key that the wallet’s owner can access. All this is done to reduce the risks involved and need to be kept secretly. It allows the users to easily exchange the coins.

A bogus wallet on App Store is an unwelcome development. Finding a noteworthy wallet for cryptocurrencies is not easy and the MyEtherWallet.com is one of the most trusted ones around. Should something go wrong during the exchange, the wallet doesn’t hold any coins and ensures that you keep your coins. Someone who wasn’t careful could have easily installed it thinking it was genuine.

Like any other forms of fake apps, this is illegitimate even coming with the advertised functions. The developer is amassing money from free and open-source software (FOSS). MyEtherWallet remarked on Twitter, they were not exactly sure how many people had already downloaded this app.

However, they kept track of the users’ feedback. Apptopia, a tracking firm informed TechCrunch that according to their estimates, 3,000 had already downloaded the app.

Apple’s App Store has one of the best security measures and this has puzzled everyone how this app could get as far as this. Not only did it go tops on the charts but it also attained an ad in the store.

This goes on to confirm that scams in the bitcoin and crypto have reached another level. This will be an embarrassment to Apple that has been renowned for its strong security measures in the market.

There are other interested watchers who are waiting to see the response from Apple. As was the case with the United States firm that this year removed all VPN apps from China after the government ordered them. The VPNs are significant to assist those in censorship countries have free internet. There were more than 600 apps that were removed by Apple from Chinese edition of the App Store in 2017

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