A fake application imitating the decentralized finance protocol Curve was listed on Apple’s App Store. According to a warning released by developers on February 14th, there is currently no official DeFi Curve application. The Curve team alerted users to be cautious of scams and announced the detection of a fake application bearing their logo.
Curve Team Responds Promptly to Fake App
The unauthorized Curve application lists MK Technology Co. Ltd as the developer. On the official website supported by Google Sites, there is a single proton mail contact address along with the Curve Finance identifier. There are no other applications created by MK Technology on the App Store.
The fake application, which currently has a 4.6 out of 5 stars rating from nine reviews, presents itself as a powerful tool for managing your debtors and loans. The scammers described the application with the following enticing statement:
“Moreover, users can also enjoy themselves directly within the app by playing puzzle games in the Game section. There are two types of games to play: classic and mixed.”
It is not yet known whether the application is using the Curve Finance brand without permission or if it is designed to steal users’ wallet assets using in-app features.
Blockchain and Security Concerns
Fake crypto applications have continued to be a persistent issue over the years. Apple removed a malicious Trezor wallet application from the App Store on June 21, 2023. When the fake app was opened, it asked users to enter their wallet phase seed, allowing hackers to drain all the crypto assets of the users. Similarly, on November 5, 2023, Microsoft removed a fake Ledger application that had stolen $588,000 in 38 transactions before being delisted for the third time in two years.
In recent years, security breaches in the blockchain space have led to both significant losses of funds and fear and anxiety among users when transacting in this space. The situation is gradually improving with sanctions by governments and precautionary measures taken by users. However, this also leads attackers to find different hacking methods.
