HomeBitcoinMan Loses Life Savings to Phony Bitcoin iOS App- Over a Million...

Man Loses Life Savings to Phony Bitcoin iOS App- Over a Million Dollars in BTC Drained – Bitcoin News



Just recently, an individual lost all of his life savings in a matter of no time after he downloaded a malicious and phony Trezor application onto his iOS smartphone from Apple’s App Store. Phillipe Christodoulou lost 17.1 bitcoin or over a million dollars worth of the cryptocurrency using today’s exchange rates. Christodoulou detailed that he’s more upset with Apple than the hackers who stole his precious digital assets.

Individual Loses His Life Savings- 17 Bitcoin Gone

Malicious and phony applications for smartphones can be a problem for crypto users and not too long ago, Phillipe Christodoulou, lost over 17 BTC. At the time of the theft his stash was worth over $600k, and today it would be well over a million dollars. On that particular occasion, Christodoulou wanted to check his balance, so he headed over to Apple’s App Store and downloaded the fake Trezor application for iOS. However, Trezor doesn’t 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 manufacturer tweeted about a similar scam application on Google’s Play Store. “A warning to all the Android users owning Trezor devices,” the company warned at the time. “This app is a scam and has no relation to SatoshiLabs and Trezor. We’ve already reported it to the Google team. Always confirm any action on your device and never type seed words until your Trezor asks you to.”

Coalition for App Fairness Executive Says ‘Apple Pushes Myths About User Privacy and Security’

The application Christodoulou downloaded was not only a phony decoy, but the malicious hackers also stole his funds. Christodoulou says he’s more heated at Apple and he was once a loyal Apple customer. “They betrayed the trust that I had in them,” Christodoulou detailed to the press. “Apple doesn’t deserve to get away with this.” Apple is supposed to do due diligence and applications downloaded from the App Store are touted as safe.

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

“Apple frequently pushes myths about user privacy and security as a shield against its anti-competitive App Store practices,” DiMuzio explained. “The truth is, Apple’s security ‘standards’ are inconsistently applied across apps and only enforced when it benefits Apple.”

What do you think about the guy who lost 17 bitcoin from the scam application? Let us know what you think about this subject 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 savings, Meghan DiMuzio, Million Dollars, Phillipe Christodoulou, phony app, phony bitcoin app, Trezor

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = ‘https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v3.2’;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));


Source link


Cardano faces $1.60 resistance after ADA price hits 2-month highs

Cardano's ADA token came close to its highest in two months on Aug. 10 as daily gains neared 6%.Data from Cointelegraph Markets Pro and...

Teller Finance deploys mainnet on Polygon, migrates 2,200 NFTs

Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest...
[td_block_social_counter style="style8 td-social-boxed td-social-font-icons" facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" custom_title="Follow us" block_template_id="td_block_template_11" border_color="#fbb03b" f_header_font_size="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTgifQ==" f_header_font_weight="600" f_header_font_family="702" f_header_font_transform="uppercase" tdc_css="eyJwb3J0cmFpdCI6eyJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsInBob25lIjp7Im1hcmdpbi1ib3R0b20iOiI0MCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3NjcsImFsbCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn19"]

Most Popular