An Apple inc (NASDAQ: AAPL) smartphone user, Phillipe Christodoulou, lost over one million dollars in value Bitcoin (BTC) after downloading an application from the iPhone’s App Store, the Washington Post reported on Tuesday.
What happened: Christodoulou is angry at the Tim Cook-led company after losing 17.1 BTC to the fake app, according to the Post.
The iPhone user had a loss of almost $ 1.01 million according to BTC’s trading price of $ 59,194.26 at the time of the press release.
Bitcoins were reportedly lost after Christodoulou downloaded an app from the App Store to check his bitcoin balance last month.
Christodoulou searched for “Trezor”
After downloading the app from the App Store, which received five stars, he lost his life savings in less than a second.
Christodoulou expressed anger at the Cupertino-based iPhone maker in California. He said, “They betrayed the trust I had in them.”
“Apple does not deserve to get away with this.”
Why it applies: An Apple spokesman said the App Store was the “safest app market in the world,” the Post reported.
“In limited cases when criminals defraud our users, we take swift action against these actors, as well as to prevent similar violations in the future,” the spokesman said.
See also: Best cryptocurrency wallets
Apple reportedly acknowledged other cryptocurrency scams in the App Store, but did not disclose a number.
UK-based Coinfirm, a company that specializes in cryptocurrency transactions, said that fake apps on Apple and Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Google’s app stores are common.
According to Coinfirm, five people have reported cryptocurrency stolen by the fake Trezor app on iOS worth a total of 1.6 million dollars. On Android, the losses amounted to $ 600,000 in cryptocurrency.
Trezor itself does not have a mobile application. A spokesman for the company said that for many years it had informed Apple and Google about fake apps that identified themselves as their product, Norway Post reported.
This month, a cryptocurrency user was deceived by 10 BTC, now worth nearly $ 591,000 after falling victim to a scammer claiming to be Elon Musk, CEO of Tesla Inc. (NASDAQ: TSLA).
Price action: Apple shares closed 1.23% lower at $ 119.90 on Tuesday.
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