Apple removes fake MyEtherWallet app from their App Store

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A fake MyEtherWallet app has been released on Apple’s App Store and priced at $4.99, even though MyEtherWallet itself does not have an app and its web version is free to use. Oddly enough, the fake app has risen to #3 within the Finance category on App Store but has now been finally taken down by App Store moderators.

This was noticed for the first time by developers on 10th December, but it wasn’t until a day later that Apple responded by taking the app down.

TechCrunch notes that the alleged creator, Nam Le, has pocketed about $15,000 in revenue after around 3000 people had paid for the fake app.

This is an important aspect of the cryptocurrency market: it is difficult to protect entry-level users and new investors from the common threats lurking around in the cryptocurrency market, as experienced hackers are getting more and more innovative when it comes to finding ways to hack your wallet and investments.

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