Fake 'MyEtherWallet' App Rises to #3 Spot on the iOS App Store's Finance Charts [Updated]

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Dec 11, 2017.

  1. MacRumors macrumors bot

    MacRumors

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    An unofficial iOS app for MyEtherWallet.com rose to the top of the App Store over the weekend, nabbing the third spot in the Finance category after being on the storefront for a little over a week (via TechCrunch). MyEtherWallet.com is a popular service made for storing cryptocurrencies but it doesn't have an official iOS app, so the company tweeted out a warning for users to not be fooled by the "MyEtherWallet" iOS app, as well as asking for Apple to remove it from the App Store.

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    At the time of writing, MyEtherWallet still remains at #3 on the App Store's Finance chart. The app lists its developer as Nam Le, who has two other iOS apps -- "Panda Warrior: Kung Fu Awesomeness" and "Mr. Beard: Icehole Fishermans" -- and one Apple Watch app called "Wrist Count." MyEtherWallet costs $4.99 and its App Store page says that it allows users to anonymously manage their ethereum wallets, create wallets offline, and store wallet keys securely inside their iPhone.

    As the company's mission statement explains, MyEtherWallet.com is a "free, open-source, client-side interface for generating Ethereum wallets & more," so the fake app's $4.99 price tag raises legal questions in addition to the questions of how it got past Apple's app review process in the first place. Tracking service Apptopia told TechCrunch that the app's week-long existence on the App Store has seen around 3,000 downloads so far. Apple has yet to comment on the unofficial app's existence and if it will be allowed to remain on the App Store.

    Apps for buying and selling cryptocurrency have become popular recently, with one called "Coinbase" -- this one official -- rising to become the #1 most downloaded free app in the United States iOS App Store last week. This happened after the price of bitcoin rose past $17,000 and saw a price jump of over 20 percent in one day. As the app climbed the App Store charts amid the bitcoin frenzy, Coinbase servers crashed for much of last Thursday, affecting both its website and the iOS app's performance.

    Update: Apple appears to have pulled the app from the App Store.

    Article Link: Fake 'MyEtherWallet' App Rises to #3 Spot on the iOS App Store's Finance Charts [Updated]
     
  2. RCS31 macrumors 6502

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    You'd think that people who have enough knowledge to own crypto-currencies would have enough awareness of these types of scams...
     
  3. Baymowe335 macrumors 65816

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    #3
    People are going to be very disappointed when the music stops and they are holding the bag.
     
  4. dannys1 macrumors 68020

    dannys1

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    Let's see how many Eth wallets he can gather before Apple remove the app and no one has access to them anymore and then he steals all their Eth.
     
  5. japanime macrumors 68000

    japanime

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    #5
    Apparently there are snakes inside Apple's walled garden. :eek:
     
  6. Jefe's MacAir macrumors 6502

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  7. Crosscreek macrumors 68030

    Crosscreek

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    #7
  8. Mackneezie macrumors regular

    Mackneezie

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  9. gatearray macrumors 65816

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    #9
    The App Store is just a poop parade any way you slice it.
     
  10. FelixDerKater macrumors 68020

    FelixDerKater

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    #10
    When there is the perception that every app is properly vetted, people are more relaxed when an intruder enters.
     
  11. scuac macrumors member

    scuac

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    People who really understand crypto-currencies know to stay the hell away from all of it to begin with.
     
  12. Chupa Chupa macrumors G5

    Chupa Chupa

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    It's pretty easy to imagine a few ways this could have happened: Could be Apple's approval staff is unchanged while app submission rate has materially increased. Could be Apple has increased staff but new staff members are poorly trained. Could be Apple's approval check list doesn't include any mechanism to verify ownership. Plenty of others, but another "teachable moment" for Apple. Hopefully they'll take heed and update internal approval routine to flush stuff like this out. Otherwise what is the point of a "walled garden" App Store? It would be no different than the Google Play jungle.
    --- Post Merged, Dec 11, 2017 ---
    Someone is getting rich of Bitcoin. I'd say you have it exactly opposite. People who understand know when to get the hell out. It's the rookies looking for a quick buck and don't understand what crypto-currency is that will get killed.
     
  13. 69Mustang macrumors 603

    69Mustang

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    I don't know many who would think they'd be scammed by an app in the App Store. People tend to assume that if it's in the App Store then the app is safe. Scam apps are also usually free so they can capture as many victims as possible. They don't usually have a cost associated with them... 'til after the hook is firmly embedded in the victims cheek.:oops:
     
  14. riverfreak macrumors demi-god

    riverfreak

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    #14
    Now if only Apple would hurry up and approve the RiverfreakWallet in time for my Initial Coin Offering.
     
  15. seatton macrumors 6502a

    seatton

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    Everyone in Cupertino is on vacation. They just have to deal with it for a few more weeks.
     
  16. iapplelove macrumors 68040

    iapplelove

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    #16
    Damn 3000 downloads! They made some money over the weekend for sure.

    Also I wonder if any info was compromised.
     
  17. mi7chy macrumors 601

    mi7chy

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  18. RightMACatU macrumors 65816

    RightMACatU

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    Cryptocurrencies, wallets, ICOs, mineware and other fake apps like this one are ramping up to be a huge scam (and bubble) that we will remember for decades.
     
  19. mrbobdobolina macrumors newbie

    mrbobdobolina

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    #19
    So... on the App store, Nam Le's support page is chariote.com, which is a landing page saying the domain is for sale for $1995...
     
  20. ersan191 macrumors 6502a

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    #20
    What an incredibly unprofessional response from MyEtherWallet... "Would appreciate the assistance in getting these scamtards out of our lives..."

    You're facilitating the use of hundreds of millions of dollars in crypto, at least make an effort not to use the word "scamtard".
     
  21. heckyeahinmyopinion macrumors newbie

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    #21
    Why do they have to be professional? Are they trying to impress someone other than you?
     
  22. macTW Suspended

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    #22
    I’m surprised an app that’s third on any list only gets 3,000 downloads in a week.
     
  23. GrumpyMom Suspended

    GrumpyMom

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    #23
    In my search for photo editing and camera apps, I noticed quite a few questionable developers whose well praised productivity apps I’m studying will also have among their uploads products that look like adware-choked intellectual property clones of popular mainstream apps, mostly games. Some are associated with Asian names so I don’t know if the developer is based in a country that shields them more from IP theft lawsuits. Anyway these factors combined have me wary and I do tend to look at the developer’s portfolio on the App Store and their associated links and contact information before deciding to let something of an unknown quality onto my device.

    I’m also on Android and that environment got me used to exercising utmost caution about app downloads.
     
  24. FangRock macrumors member

    FangRock

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    #24
    3rd in paid financial - there cant be that many of those.
     
  25. OldSchoolMacGuy macrumors 68040

    OldSchoolMacGuy

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    #25
    Proving further that Bitcoin people are stupid. A fool and his Bitcoin are soon parted.
     

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