• Home
  • Contact Us
  • Privacy & Policy
Tuesday, May 24, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Crypto News Bitcoin

Go Phish: How This Bitcoin Investor Lost 17 BTC To An iPhone App

by admin
April 1, 2021
in Bitcoin
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Bitcoin is once again making headlines everywhere, mostly for all the right reasons this time around. However, where there’s money to be made, there’s also scammers waiting in the shadows to steal funds whenever they can.

The latest situation involves a highly sophisticated replica of a popular Apple iPhone app, a malicious application from Apple’s App Store, and a now stolen 17 BTC.

Bitcoin Investor Has Half A Million Dollars Worth Of BTC Stolen

During the height of the 2017 bull market, one of the symbols that cryptocurrencies had “made it” was when Coinbase had been topping the Apple App Store for iOS devices for days on end. Investors were flocking to the platform in droves as Bitcoin FOMO took over.

These days, there’s much more variety out there, including more ways to buy or store cryptocurrencies beyond just Coinbase alone. The platform remains the most popular out there, set to go public within the next year or so.

Related Reading | Bitcoin Searches Spike On Google After Twitter Scam Goes Viral

Investors can also store their coins in third-party wallets, or use an app interface to interact with their hardware wallets, like Ledger or Trezor.

That’s exactly what Phillipe Christodoulou meant to do, but instead lost a staggering 17.1 BTC – worth over a half a million dollars – in a phishing scam.

The more expensive Bitcoin gets, the more scammers it attracts | Source: BTCUSD on TradingView.com

Beware Of Phishing Scams In Apple App Store, Social Media, And Elsewhere

Christodoulou downloaded a highly rated, five-star app from Apple’s App Store, the company’s flagship and regularly quality-controlled platform. Apple maintains certain standards, and works to prevent situations like this from happening.

But then why did it? Christodoulou is furious with the company and rightfully so. He is also demanding answers and justice.

“They betrayed the trust that I had in them,” he told The Washington Post. “Apple doesn’t deserve to get away with this.”

Scammers regularly pull this tactic with Apple’s App Store, and unfortunately, this application somehow snuck through. The app was posing as a Trezor app, bearing the company’s logo and all.

Related Reading | The Most Common Bitcoin Scams And How To Avoid Them

But after loading it with his life-savings, it wasn’t until later he had realized what had unfolded. The app was a phishing app, and now his 17.1 BTC are in the hands of a scammer.

Scams like this are unfortunately common wherever users aggregate and offer a back door to crypto assets. Even real, verified apps or in other situations, social media accounts, can still get hacked and result in a loss of coins.

It’s also important to always keep legitimate apps or wallets fully up to date, to avoid any loop holes or security vulnerabilities that have since been fixed, but must be installed through user intervention.

Featured Image From Deposit Photos, Charts From TradingView.com
Tags: appBitcoinBTCinvestoriPhoneLostPhish
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Coinbase-Led Travel Rule Group Grows Members, Expands to Canada and Singapore

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Coinbase-Led Travel Rule Group Grows Members, Expands to Canada and Singapore

May 24, 2022

Abercrombie shares fall over 25% after retailer posts loss, offers weak outlook

May 24, 2022
Is EUR/USD Truly Out for the Doghouse? – Action Forex

Is EUR/USD Truly Out for the Doghouse? – Action Forex

May 24, 2022

Should You Still Retire if the Stock Market Crashes?

May 24, 2022

Recent News

Coinbase-Led Travel Rule Group Grows Members, Expands to Canada and Singapore

May 24, 2022

Abercrombie shares fall over 25% after retailer posts loss, offers weak outlook

May 24, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.