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Home / Technology / Man loses life savings to fake Bitcoin iOS app – Over a million dollars in BTC drained – Bitcoin News

Man loses life savings to fake Bitcoin iOS app – Over a million dollars in BTC drained – Bitcoin News



Just recently, a person lost all his life savings in a short time after downloading a malicious and fake Trezor application on his iOS smartphone from the Apple App Store. Phillipe Christodoulou lost 17.1 bitcoin or over a million dollars worth of cryptocurrency using current exchange rates. Christodoulou explained that he is more upset with Apple than the hackers who stole his precious digital assets.

Individuals lose their life savings – 17 Bitcoin gone

Malicious and fake applications for smartphones can be a problem for crypto users, and not long ago Phillipe Christodoulou lost over 17 BTC. At the time of the theft, his stash was worth over $ 600,000, and today it would be well over a million dollars. On the special occasion, Christodoulou wanted to check the balance, so he went over to Apple’s App Store and downloaded the fake Trezor application for iOS. However, Trezor does not offer such an application, and in fact the company had been warning about the problem for some time now.

On December 2, 2020, the hardware wallet maker tweeted about a similar scam on the Google Play Store. “A warning to all Android users who own Trezor devices,” the company warned at the time. “This app is a scam and has nothing to do with SatoshiLabs and Trezor. We’ve already reported it to the Google team. Always confirm actions on your device and never write seed words until Trezor asks you to. ”

Coalition for App Fairness Executive says’ Apple sheds myths about users’ privacy and security ‘

The application Christodoulou downloaded was not only a fake bait, but the malicious hackers also stole his money. Christodoulou says he’s more excited about Apple, and he was once a loyal Apple customer. “They betrayed the trust I had in them,” Christodoulou explained to the press. “Apple does not deserve to get away with this.” Apple will do due diligence, and applications downloaded from the App Store will be touted as safe.

“Study after study has shown that the App Store is the most secure app market in the world,” stressed Apple spokesman Fred Sainz. However, according to a report by the Washington Post, Meghan DiMuzio, CEO of the Coalition for App Fairness, disagrees.

“Apple often runs myths about users’ privacy and security as a shield against its competitive App Store practices,” explained DiMuzio. “The truth is that Apple’s security standards are used inconsistently across apps and are only enforced when it benefits Apple.”

What do you think of the guy who lost 17 bitcoins from the scam application? Let us know what you think about this topic in the comments section below.

Tags in this story

$ 600k, 17.1 bitcoin, 17.1 BTC, App Store, Apple, Apple spokesperson, Bitcoin, Bitcoin (BTC), BTC, Fake Trezor App, Fred Sainz, iOS, life saving, Meghan DiMuzio, Million dollars, Phillipe Christodoulou, fake app, fake bitcoin app, Trezor

Image Credits: Shutterstock, Pixabay, Wiki Commons

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