From appleinsider.com

The App Store is meant to be safe from scam apps

Bitcoin app accused of stealing $120,000 in another App Store failure [u]

Reports of another fake bitcoin wallet in the App Store are claiming that “Leather Wallet & Hiro Bitcoin” took over $120,000 in a single fraudulent transaction.

Apple claims the EU is weakening App Store security, and executives including Craig Federighi stress that users are at risk if its review process is skipped by alternative app stores. But it appears that yet another scam app has made it through Apple’s App Store review process.

Financial app developer George Burke reports that the app, “Leather Wallet & Hiro Bitcoin,” has stolen the equivalent of $121,448.22. Burke has provided a link to the transaction details, though it’s not clear whether it’s he or a client who was allegedly defrauded.

So far there are few other reports and responses to Burke’s comment on X/Twitter, but one is from someone claiming that many people have been aware of the scam “for a while.” There are also reports that Bitcoin developer Hiro — fraudulently named in the app’s title — has contacted Apple.

According to its App Store listing, “Leather Wallet & Hiro Bitcoin” was added in late February. It is developed by a firm called Huynh Gia Hai Service Construction Trading One Member Company Limited.

The firm appears to have no other apps, and no online presence other than a privacy policy. That policy is required by Apple, but in this case the details are held on the third-party TermsFeed site.

Apple has now confirmed to AppleInsider that the app was on the App Store for approximately two weeks, but has now been removed. This is similar how it reacted when it removed a different fake crypto app.

Updated: 11 March 2024 17:15 with Apple’s response.

[ For more curated Apple news, check out the main news page here]

The post Bitcoin app accused of stealing $120,000 in another App Store failure [u] first appeared on appleinsider.com

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