A Bogus Crypto App in the App Store Has Reportedly Stolen Thousands of Dollars From Users





An iOS app masquerading as crypto service Rabby Wallet appears to have slipped past Apple’s App Store review team.

While the official Rabby Wallet app hasn’t yet gained App Store approval, Rabby Wallet & Crypto Solution has been taking money from users, according to Apple Insider.

Apple confirmed to Cord Cutters News that the app in question had been pulled from the App Store and the developer would be removed from the Apple Developer Program. The company also said it has zero tolerance or fraudulent activity and abuse.

The real Rabby Wallet shared a warning on X (formerly Twitter) last week. The post said the real app could be identified by its developer, DeBank for Android users and DeBank Global Pte. Ltd for iOS users.

“For secure downloads, only use our official website,” Rabby Wallet said in the post.

In the post’s comments, multiple users said they’d lost money and assets after unknowingly using the knockoff app. Other users shared their experiences in an Apple discussion forum.

“I used the fake app and lost 24k USD, which is painful, and I am so disappointed in Apple that a fake app made it to the App Store prior to the real one,” one fraud victim wrote.

“My wallet was drained 16K over the weekend,” another user said.

This isn’t the first time a malicious duplicate of an app has wormed its way into the App Store. Earlier this month, a fake LastPass password manager app was removed from the App Store. Another app claiming to test your vision was actually a pirate streaming service that was in the store for months before it got the boot last week.

Fraudulent apps can look almost identical to the real apps, but there are often red flags to look out for to avoid a scam.

In the fake LastPass incident, the company said in addition to multiple misspellings and errors, the cybercriminals had listed Paravati Patel — a character from the Harry Potter series — as a developer. In Rabby’s tweet, the company also pointed out that the phony app had a different developer.

A good rule of thumb before downloading anything: Check the official website. You can also verify an app’s legitimacy by checking reviews, the number of downloads, and app permissions.

Rabby Wallet wasn’t immediately available for comment.

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