Counterfeit 'Curve Finance' App Appears on Apple's App Store, Users Warned of DeFi Scams
Summary:
A counterfeit application mimicking the decentralized finance protocol, Curve, has popped up on Apple's App Store. Developers issued a warning on Feb. 14, noting no official Curve app exists in the DeFi arena. The scam app, credited to MK Technology Co. Ltd, markets itself as a useful tool for managing borrowers and their loans. It's yet unclear whether the app is unlawfully using Curve Finance's brand or intends to defraud users of their wallet assets. These fake crypto apps have plagued users persistently, with Apple and Microsoft having previously removed harmful wallet apps from their respective stores.
An imitation application masquerading as the decentralized finance protocol, Curve, has found its way onto Apple's App Store. Developers issued a warning on Feb. 14, emphasizing that there is no official Curve app in the DeFi space. The staff at Curve raised an alarm, stating the fraudulent app has even copied their logo and cautioned users to stay alert. The illicit Curve application cites MK Technology Co. Ltd as its originator. The company's official webpage, powered by Google Sites, provides just a single proton mail contact and is labeled "Curve Finance", without any more applications developed by MK Technology available on the App Store. Boasting a 4.6 rating from nine reviews, the fraudulent application markets itself as an app adept in handling your borrowers and their loans, with integrated entertainment features like a puzzle game. Whether the app is illicitly using the Curve Finance brand or is designed to rob users of their wallet assets via in-app features is yet to be ascertained. Crypto scams via fake applications have continued to plague users. For instance, on June 21, 2023, Apple expelled a harmful Trezor wallet application from its App Store that tricked users into revealing their wallet seed phrases, thereby allowing the perpetrators to pilfer their crypto assets. Likewise, on Nov. 5, 2023, Microsoft purged, for the third time in as many years, a deceitful Ledger application that swindled $588,000 across 38 transactions prior to its removal. This latest scam involving the fake Curve Finance application on App Store further highlights this persisting issue._related: An iPhone user accuses Apple of a $600K Bitcoin theft through a counterfeit app.
Published At
2/14/2024 7:40:00 PM
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