Apple in trouble: Fake Bitcoin wallet app steals millions
Three users are suing Apple after losing $1.8 million to a fake Bitcoin wallet app that bypassed the App Store's security screening. The app impersonated a legitimate service that does not even have an iOS version.
We are accustomed to treating the Apple App Store as the safest place to download software, but a new lawsuit filed in California proves that one should be careful there as well. Three users are suing the tech giant after losing a cumulative sum of about 1.8 million dollars. According to them, they fell victim to a fake Bitcoin wallet application that posed as a legitimate app and managed to evade Apple's screening mechanisms directly onto their iPhones.
Update: Apple has responded.
Read the response here: https://t.co/WkoJ1jFiHt https://t.co/uNSgz0qZVV
The fake wallet scam
The application in question posed as Sparrow Wallet, a popular Bitcoin wallet that is generally only available for computers and does not exist in an iOS version. The scammers exploited the app's reputation and created a fake version for the iPhone. Users who downloaded it and entered their details quickly discovered that their accounts had been completely emptied. The plaintiffs claim that Apple ignored repeated warnings, including from the original wallet developer, who had been warning for weeks about the existence of the fake apps in the store.
The developer of the original application, Craig Raw, even tried to upload an empty app to the store with screenshots explaining that the service is available for computer only, in order to protect users. In response, Apple temporarily blocked his developer account, claiming dishonest activity, a decision that was later reversed. The lawsuit emphasizes that the users relied on Apple's marketing promises, which present the App Store as a safe and supervised place, and are now demanding full compensation for the funds stolen from them.
How is Apple responding to the accusations?
In response to the case, Apple stated that it acted quickly to remove the fake applications and that it blocks developer accounts involved in scams. The company emphasized that it allows developers and customers to report intellectual property violations and scams, and acts immediately against applications that do not comply with its guidelines. According to the company's data, in 2025 it blocked about 193,000 developer accounts due to suspicion of fraud and prevented fraudulent transactions worth more than 2.2 billion dollars.
This story reminds us that even in official stores, one must be vigilant. Before you download a financial application or a crypto wallet, it is recommended to visit the official website of the service and verify through it if an official mobile version exists, and not to rely solely on the search in the App Store.
