Apple is once again being sued over a scam cryptocurrency app that allegedly slipped through App Store review and cost users millions. Here are the details.
App review in trouble yet again
Over the years, there has been no shortage of scam cryptocurrency apps slipping through App Store review and leaving users with substantial losses.
In 2023, Apple removed a fake Trezor wallet app after it climbed to the top of the App Store’s search results, while a fraudulent Rabby Wallet app was linked to reports of stolen funds the following year. Much earlier, in 2017, a fake MyEtherWallet app reached third place in the App Store’s Finance category, before being pulled.
Then, a little more than a year ago, an iPhone user named Danyell Shin filed a proposed class action after losing more than $80,000 to Swiftcrypt, a fake cryptocurrency trading app downloaded from the App Store.
