Imposter Cryptocurrency Wallet App Races Up Apple's Store Charts

Apple let a knockoff version of one of the world's biggest crypto wallets into the App Store

What's even more concerning is that the fake Ethereum wallet app rose through the ranks to become the third most-downloaded app in the App Store's Finance category over the weekend.

An unofficial app for the popular MyEtherWallet.com service is being sold for $4.99 in Apple's iOS App Store, as spotted by TechCrunch. In a letter dated December 1, 2017, Congressman Ted W. Lieu wrote to Apple asking that the company reconsider what it's doing to small businesses by casting "too wide a net" in its App Store policing efforts. The people behind the original service tweeted out a warning to users on Sunday.

The developer of the app, listed as Nam Le, doesn't seem to have any other finance apps out there.

It's unclear if the developer intentionally made a decision to ride on the coattails of MyEtherWallet.

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Of course, this story wouldn't be as interesting if the app was what it purported to be.

We've reached out to Apple for comment, and will update with any response. Cybercriminals like to publish imposter apps that can serve invasive ads, secretly install malware, or grab your personal information. It's actually a fake version, and it's not understood how it actually good into the store. It allows users to create or import wallets for their cryptocurrencies, promising: "Your keys are encrypted and stored securely inside your phone". A link to the app will usually be featured on the web page.

The Congressman suggests that Apple is now casting "too wide a net" in its effort to remove spam and illegitimate apps from the App Store, and is "invalidating apps from longstanding and legitimate developers who pose no threat to the App Store's integrity".

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