Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Just recently, an individual lost all of his life savings in a matter of no time after he downloaded a malicious and phony Trezor application onto his iOS smartphone from Appleās App Store. Phillipe Christodoulou lost 17.1 bitcoin or over a million dollars worth of the cryptocurrency using todayās exchange rates. Christodoulou detailed that heās more upset with Apple than the hackers who stole his precious digital assets.
Individual Loses His Life Savings- 17 Bitcoin Gone
Malicious and phony applications for smartphones can be a problem for crypto users and not too long ago, Phillipe Christodoulou, lost over 17 BTC. At the time of the theft his stash was worth over $600k, and today it would be well over a million dollars. On that particular occasion, Christodoulou wanted to check his balance, so he headed over to Appleās App Store and downloaded the fake Trezor application for iOS. However, Trezor doesnāt offer such an application and in fact, the company had been warning about the problem for some time now.
On December 2, 2020, the hardware wallet manufacturer tweeted about a similar scam application on Googleās Play Store. āA warning to all the Android users owning Trezor devices,ā the company warned at the time. āThis app is a scam and has no relation to SatoshiLabs and Trezor. Weāve already reported it to the Google team. Always confirm any action on your device and never type seed words until your Trezor asks you to.ā
Coalition for App Fairness Executive Says āApple Pushes Myths About User Privacy and Securityā
The application Christodoulou downloaded was not only a phony decoy, but the malicious hackers also stole his funds. Christodoulou says heās more heated at Apple and he was once a loyal Apple customer. āThey betrayed the trust that I had in them,ā Christodoulou detailed to the press. āApple doesnāt deserve to get away with this.ā Apple is supposed to do due diligence and applications downloaded from the App Store are touted as safe.
āStudy after study has shown that the App Store is the most secure app marketplace in the world,ā Apple spokesperson Fred Sainz stressed. However, according to a report from the Washington Post, Meghan DiMuzio, executive director of the Coalition for App Fairness disagrees.
āApple frequently pushes myths about user privacy and security as a shield against its anti-competitive App Store practices,ā DiMuzio explained. āThe truth is, Appleās security āstandardsā are inconsistently applied across apps and only enforced when it benefits Apple.ā
What do you think about the guy who lost 17 bitcoin from the scam application? Let us know what you think about this subject in the comments section below.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.