Man Loses Life Savings to Phony Bitcoin iOS App- Over a Million Dollars in BTC Drained – Bitcoin News

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Recently, a man lost all his savings in an instant after downloading the malicious, fake Trezor app from Apple’s App Store on his iOS smartphone. Philippe Christodoulou lost 17.1 bitcoins, or more than $1 million in crypto currency at today’s exchange rates. Christodoulou said he was more angry with Apple than with the hackers who had stolen his valuable digital assets.

man loses his savings – 17 bitcoins missing

Malicious and fake smartphone apps can be a problem for cryptocurrency users. Not long ago, Philip Christodoulou lost more than 17 BTC. His stock was worth more than $600,000 at the time of the robbery, and today it would be more than $1 million. In this case, Christodoulou wanted to check the balance of his account, so he went to the Apple App Store and downloaded the fake Trezor app for iOS. However, Trezor does not offer such an app and in fact, the company has been warning about this problem for some time.

The second one. In December 2020, the e-wallet’s creator posted on Twitter about a similar fraudulent app on the Google Play Store. The company then issued a warning to all Android users who own Trezor devices. This application is a scam and has nothing to do with SatoshiLab and Trezor. We have already reported this issue to the Google team. Always confirm every action on your device and never enter source words before Trezor asks you to.

App Fairness Executive Coalition says Apple debunks privacy and security myths

The Christodoulou app he downloaded was not only fake bait, but also malicious hackers who stole his money. Christodoulou says he’s hotter for Apple, and he was once a loyal Apple customer. They have betrayed the trust I had in them, Christodoulou told the press in detail. Apple doesn’t deserve to get away with this. Apple is expected to take all necessary precautions and applications downloaded from the App Store are considered safe.

Study after study has shown that the App Store is the most secure application market in the world, said Fred Sainz, Apple spokesman. However, according to a report in the Washington Post, Megan DiMuzio, executive director of the Coalition for Fair Apps, disagrees.

Apple often propagates myths about user privacy and security to defend itself against its anti-competitive practices in the App Store, DiMuzio said. The truth is that Apple’s security standards are not consistently applied to applications and are only used when it benefits Apple.

How about the guy who lost 17 bitcoins to the scam? Let us know what you think in the comments below.

Tags in this story

600,000, 17.1 bitcoins, 17.1 BTC, App Store, Apple, Apple spokesperson, Bitcoin, Bitcoin (BTC), BTC, Fake Trezor App, Fred Sainz, iOS, savings, Meghan DiMuzio, million dollars, Phillipe Christodoulou, Fake App, Fake Bitcoin App, Trezor

Photo credit: Shutterstock, Pixabay, Wiki Commons

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