Do You Trust Wallet Apps That Appear On The App Store?
You secure your crypto assets in your wallet. You usually download the wallet app from the app store. You search on the app and it appears. Do you have any doubts about apps that appear on the screen?
Apple has taken action to remove a fake Trezor wallet app from the Apple app store. You might find more fake and malicious apps on the app store. If you download any malicious app and insert the seed phrase that you usually do in your wallet, app operators will get it. As soon as bad actors get your seed phrase, they will drain your wallet.
Your crypto assets will disappear as if it was never there before. You can notice your cryptocurrency transfers to another wallet that bad actors control. One user lost $600K in Bitcoin becoming a victim of a fake Trezor wallet app in 2021.
Apple removed fake wallet apps several times back then. Still, it keeps appearing on the Apple app store. Recently Apple has removed another malicious Trezor wallet app. Will you trust apps on the app store blindly?
I will never do that. Even though it says that Apple app store is a place you can trust, scammers get their hands everywhere. It shows that fake wallet apps appear on the app store over and over. Despite their effort to remove fake and malicious apps, you can be a victim of a fake wallet app.
What do you usually do to download the original apps from the Apple app store or Android app store? I check out the official website first. If they have apps, you will get information there. When you land on the official website and redirect to the app store, it ensures that you will get the original app.
It is difficult to distinguish the fake wallet app from the original wallet app. Scammers make it look like the original one. Many people lost their crypto assets using fake wallets. You can blame the app store that did not take action against fake wallet apps in time. You will not get your stolen crypto assets back.
Apple can send a warning letter for violating its policy as it did to the social media app Damus. Damus offers P2P transactions in Bitcoin, and that was a problem. It has to use the in-app purchase feature. On the flip side, fake wallet apps keep popping up on the app store.
I think scammers and hackers will use their tricks to steal crypto and it will happen over and over. If you keep yourself safe and be careful before anything happens, that can be the best defense against scams.
Image Sources: 1, and 2.
Reference: 1.
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I'd trust it more coming directly from the source (the developer), signed with their public key. For now, most people are going to trust Apple and Google.
Yes, since people see the app appears on search, they usually trust it. Following the official website that redirects to the app is always better from a security perspective.
It hurts to see but the scammers will always be trying to get victims. Some people don't learn until they have it happen to them but I don't really trust them. I tend to try to find the older apps if I were to have to.
What you feel safe to do, do that. It is painful to learn something becoming the victim. It is better to learn from others' mistakes.
So much evil annoys me, I believe in KARMA, life gives you back in the same proportion what you do, but you also have to be very careful when doing things
You're right. Even if bad actors get away with it, they will not find peace. They will surely suffer at some point.