Monday, October 25, 2021
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17.1 BTC Almost $974,700 Stolen From Fake Trezor App On Apple App Store

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A whopping $974,700 worth of Bitcoin (BTC) was recently stolen from an investor. He used an app from Apple’s App Store because he believed it would be safe using an APP from Apple store. However, it was a scam and the investor is blaming Apple.

The Washington Post reports.


Phillipe Christodoulou has lost almost all his money. The investor downloaded a Trezor app from the App Store last month to check his BTC balance. But Trezor doesn’t have an app on iOS at all.

The app appears to be from Trezor and was rated five stars on the App Store. However, after the investor entered his seed phrase (password), 17.1 BTC was immediately stolen from his wallet.

Christodoulou blames Apple, as the company picture itself as “the world’s most trusted apps marketplace” and collects 15-30% for the control and cu ration of apps that appear on the App Store.

Christodoulou, has filed a report with the Federal Bureau of Investigation (FBI). He says he is destroyed and he is going to a psychiatrist and taking medication, but he still hasn’t heard from Apple.

The reactions from the crypto community varies. Many people show understanding and pity for Christodoulou, but there are also those who say it is his fault. According to them, the investor should have done proper research before downloading Trezor fake app.

This form of scam is increasingly common. According to Coinfirm, $1.6 million has already been stolen via fake Trezor apps on iOS, and many more types of fake wallet apps exist in the market.

Trezor warned a few days ago about such an app on the Google Play Store:

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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