Malicious Bitcoin Wallets on iOS Cause US$20k in Losses

The recent developments regarding malicious Bitcoin wallets appearing in the Apple App Store has many people on edge right now. Several users have reported funds being stolen from them, and the totals are adding up quickly. So far, one of the addresses identified as being used by these malicious web wallets contains over US$20,000 in Bitcoin.

The Game of Bitcoin Wallet Scams Continues

While Apple is still not planning to take much action against these fake Bitcoin wallets in their App Store, more details are becoming available regarding the people who downloaded them. One Bitcoin user even claims to have lost US$10,000, which is quite a significant amount. But the total losses due to these malicious apps is much bigger than that, unfortunately.

Breadwallet co-founder Aaron Voisine told Motherboard how he noticed there was over US$20,000 in one Bitcoin address used by the developers of these fake wallets. This seems to confirm initial suspicions of how any funds stored in these iOS apps would slowly be sluiced away to a Bitcoin address controlled by internet criminals.

While Apple has been receiving multiple reports about these malicious Bitcoin wallets, more seem to

Read more ... source: TheBitcoinNews