Apple Sued Over $1.8M in Fake Crypto Wallet App Losses

Three cryptocurrency users have sued Apple over allegedly losing more than $1.8 million in Bitcoin to a fraudulent wallet application distributed on the App Store.

The complaint, filed on July 24 in the US District Court for the Northern District of California, alleges that Apple failed to review and monitor applications adequately despite promoting the App Store as a secure and trusted marketplace.

The plaintiffs claim that they downloaded an application impersonating Sparrow Wallet and entered their wallet recovery phrases, resulting in Bitcoin worth approximately $875,000, $840,000, and $120,000 being transferred to wallets controlled by scammers.