Imposter Cryptocurrency Wallet App Races Up Apple's Store Charts


If you have an iOS device and are interested in Ethereum, then there's a serious threat lurking in Apple's App Store.

According to a report by TechCrunch, the app made its way through Apple's strict app selection policies and quickly entered the top three of the finance category in the App Store.

Apple has issued a January 1, 2018 deadline to many companies - after which any new apps submitted will be rejected - and the scrutiny has already shut down Shoutem, one of many companies that offered app-creation services to smaller businesses.

The app in question, priced at $5, makes no claims to be the popular website, despite sharing a name, and a quick browse of the creator's past apps only reveals two panda-themed fighting games, and a handful of other apps - none related to Bitcoin or cryptocurrency.

IPhone maker Apple Inc said on Monday it had removed a paid iOS application from its App Store after MyEtherWallet, a free service for storing digital currencies, complained that the program was improperly using its name.

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New Apple App Store guidelines state that apps created from "commercialized template or app generation services" will be rejected from inclusion in the App Store as of January 1, 2018. It allow users to create or import a wallet to store cryptocurrencies independently of an exchange.

Crypto wallets have become hugely popular as Bitcoin has grown over the years, and they usually consist of a shareable public address and private key.

But the imposter version of MyEtherWallet is breaking the law in many ways. MyEtherWallet Twitter account posted an update, asking users not to download the application, and uncovered that the application has been reported to Apple.