Phillipe Christodoulou installed a fake Trezor wallet app on his iPhone and invested nearly $ 600,000 in bitcoin. He soon found that he had lost all his savings.
The creators of the fake app were able to avoid verification, and as a result, it was posted on the App Store. Those who installed the fake app believed it was the official app of Trezor, the maker of cryptocurrency hardware wallets.
Trezor has consistently stated that companies have no Android or iOS apps, and has complained about fake apps featured in Apple and Google Play stores. In December 2020, the company warned Android users who own a physical Trezor wallet that these apps are fake and should not be installed on their devices. Trezor also notified Google of these fake applications to protect users’ bitcoin and other cryptocurrencies. Google promptly removed the Android version of the fake Trezor wallet back in December 2020.
While Apple continues to insist that its app store is one of the safest places, a specific case has shown that this is not the case. Apple should develop a more robust approach to dealing with fake apps by quickly identifying and removing them. Christodoulou said that now he does not trust Apple and would like the company to be punished.
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