Home » Technology » Software » MyEtherWallet on iOS might be a scam

MyEtherWallet on iOS might be a scam

my ether wallet

An application pretending to be a well known digital currency storing wallet site, MyEtherWallet, has taken off to the top of the iOS App Store, following an extraordinary end of the week at Bitcoin as costs took off by 20 percent, surpassing a price of $17,000 per Bitcoin.

The application being referred to, priced at $5, makes no claim to be the mainstream site, notwithstanding sharing a name, and a fast browse of the designer’s past applications just uncovers two panda-themed battling games, and a modest bunch of different applications — none identified with Bitcoin or digital currency. MyEtherWallet Twitter account posted an update, asking users not to download the application, and uncovered that the application has been reported to Apple.

MyEtherWallet is legitimate but the app on Apple store cannot be granted the same

The significance of a wallet concerning digital currency is much the same as with genuine money; a wallet guards your assets until the point that you’re prepared to spend them. Given the colossal estimation of Bitcoin, and the current boom, it’s worth speculators’ time to guarantee that the wallet service they pick is completely secured and safe, since losing their Bitcoin could cost them a huge number of dollars.

There’s nothing to unmistakably recommend that MyEtherWallet isn’t an authentic wallet service, and the name could well be a coincidence — however Bitcoin owners would be savvy to keep away from this specific application for the time being, particularly given the absence of any improvement history with cryptographic money.

Read: Coinbase is the top application on Apple app store

Image via myetherwallet