Apple Removes Fake MyEtherWallet Which Hit No. 3 on App Store
It took several days for Apple to remove a fake MyEtherWallet from its App Store despite it getting over 3000 downloads.
A rogue incarnation of popular altcoin wallet MyEtherWallet has finally disappeared from Apple’s App Store after gaining significant popularity.
Having risen to number three in the marketplace’s finance app category, Apple moderators at last removed the spurious MEW from sight.
Despite MEW itself not having an app and its desktop implementation being free to use, the fake charged $4.99 to download.
Developers sounded the alarm on social media Dec. 10, but it was not until more than a day later that Apple responded.
Prior to its removal, TechCrunch notes, around 3000 people had paid and downloaded the app, netting alleged creator Nam Le around $15,000 in revenue.
The episode marks a further case in point of how difficult it is to protect entry-level users from threats common in the cryptocurrency space.
The huge influx of novice Bitcoin and altcoin investors gives multiple opportunities to more experienced hackers looking to defraud them of their newly-acquired coins or even the fiat used to pay for them.