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Crypto Holder Loses $600k worth of Bitcoin After Downloading Fake Trezor App

Crypto Holder Loses $600k worth of Bitcoin After Downloading Fake Trezor App

An iPhone user named Phillipe Christodoulou lost 17.1 Bitcoin worth over $600k to a scam app called Trezor. According to The Washington Post reports, crypto holder Phillipe Christodoulou fell victim to a scam app on the App Store. It resulted in squandering approximately all his life savings to a fake crypto wallet application. Last month, Christodoulou went to the Apple App Store to hunt for a mobile Trezor app to monitor his Bitcoin balance through his phone. However, he was unaware that Trezor does not currently offer an iOS app. Christodoulou downloaded a doppelgänger Trezor app that claimed close to five stars. He furnished the opinion that it was undoubtedly an official app.

The app had various positive reviews, so he never imagined any possible problem. However, in reality, he had downloaded a scam app intended to steal victims’ cryptocurrencies by making them understand they were utilizing the original wallet. By inserting his key to restore his wallet, he unknowingly provided the scammers with the data they required to obtain his funds. Phillipe Christodoulou then lost 17.1 Bitcoins with no expectation of getting amends.

Phillipe Christodoulou says Apple is Responsible for his Loss

Christodoulou opined that Apple, which garners 15% to 30% commissions on sales, should be held accountable for this condition. As per the report, Christodoulou filed a statement with the Federal Bureau of Investigation. As the news went viral, the crypto community has various opinions on the matter. They are somewhat confused about whether one should blame Apple for the accident. The Apple ecosystem is one of the most centralized and established in the world. Unquestionably all processes are controlled by Apple, which is accountable for guaranteeing the apps’ security downloaded on any of its devices. Therefore, if Apple is reliable or not, it would be legally correct for a court to decide. 

However, Trezor does not recently have an app on iOS but has been active in exposing various phishing tools that the Google team has recommended for Android users. The company has also fixed and mended various bugs that inclined to hacks and other sorts of attacks. Furthermore, fake cryptocurrency wallets and trading apps have surfaced on the App Store earlier. Coinfirm, a UK-based crypto intelligence company, stated that five people have reported having their crypto seized by a fake Trezor app on iOS, with total losses calculated at $1.6 million. 

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