A fraudulent cryptocurrency app on the App Store already stole thousands of dollars

The most recent gaffe for Apple’s App Store review staff is an app that seems to be for the cryptocurrency service Rabby Wallet. Although Apple’s Phil Schiller is right when he says that the EU’s mandate for alternate app shops reduces the security of the iPhone, that much-lauded security has yet again shown itself to be weak. A fraudulent blockchain software has been stealing money from customers, in addition to the movie piracy app that was recently found and the program that looked like LastPass, a password manager, on the software Store.

The phony application, which goes by the name Rabby Wallet & Crypto Solution, poses as the legitimate Rabby Wallet software. The genuine software hasn’t been approved by the software Store; therefore, the scammers’ app has no competition either.

According to its developer, DeBank Global Pte. Ltd., the actual software is still being reviewed in the software Store, and consumers have been warned about the phony. The blockchain service may also be accessed via a Mac program or a Chrome plugin.

“I was also scammed for about $5k USD from this fraudulent app this morning,” said one customer on Apple’s help pages, claiming that the false app had been accessible for years. “I have raised a support case with apple to see if there’s any means of reimbursement as the app has been reported multiple times prior and is still standing 4 years now.”

“After less than a day of trying to use this wallet, I managed to lose the majority of my holdings,” commented another in the Rabby Wallet Discord channel. “I certainly deserved it for failing to complete my due research. Am I going to whine to the skies to Apple Support to receive a refund? Sure.”

Apple has not addressed the issue. That pirate movie app existed for months before Apple deleted it. Similar issues exist not only in the iOS App Store, but also in the Mac App Store, where Apple has often been hesitant to delete fakes.