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- Scammers are offering a malicious Curve Finance app on Apple’s App Store
- The fake app’s users have reported losing funds to the malicious actors
- This is the third time the app has reappeared on the App Store
Malicious actors have found a way of relisting a fake Curve Finance app on Apple’s App Store, with some of its users reporting losing funds. This is the third time the app has found its way to the Apple application store despite being removed from the platform less than a week ago. The scammers ensured that the app has high ratings and downloads, something that has made it easy to nab unsuspecting users.
Scammers Targeting Corporate and Retail DeFi Users
The app mimics the operations and offerings of the original app such as enabling users to stake and swap their tokens. According to Babu Lal who reported the fake app, the app is part of growing attempts by malicious actors to target both corporate and retail DeFi users.
🚨 #ScamAlert: Another fake app is impersonating @CurveFinance on the Apple App Store, just days after the previous one was removed.
Financial institutions and consumers continue to be prime targets. What measures are brands taking to safeguard against these threats? pic.twitter.com/8EKpDMWHbO
— Babu (@pooniawalla) November 5, 2024
Screenshots shared by Lal indicate that the app was published on the App Store by a firm that describes itself as an “invoice maker.” Lal noted that the previous fake Curve Finance app was removed on October 28.
According to Lal, the scammers seem to have “backup apps ready to keep their schemes active even after takedowns.” Other platforms that the scammers had impersonated their apps but were later removed from the App Store in October include DBS Bank and HSBC Bank.
Weekly Update on Fake Apps: 28 Oct – 3 Nov 2024
• Fake Apps Removed This Week: 46
• Total Removed: 6,436Top Brands Affected This Week: Zerodha, YES Securities, AU Small Finance Bank, L&T Finance, Dhani, SMBC Bank, Curve Finance, Bajaj Broking, DBS Bank, HSBC Bank, Abacus…
— Babu (@pooniawalla) November 5, 2024
A Fake App Is One Among Many Malicious Tactics
DeFi users who lost funds with the fake app have left negative reviews on the app’s page with some saying the app doesn’t have active customer support with others saying that their crypto mysteriously vanished into thin air.
Publishing fake apps on app stores is only one of the ways that scammers use to steal crypto. Recently, malicious actors have been hacking the social media accounts of prominent figures and directing their followers to wallet drainers. Scammers are also cloning popular crypto-focused websites to nab unsuspecting victims.
Although the fake Curve Finance app will be removed from the App Store, it’s likely that the scammers will relist it on other app stores like Google’s Play Store to nab Android users.
