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Crypto

Apple Users Lose $1.8M to Fake Wallet Apps on iOS

Guavy AI Editorial Team
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Three cryptocurrency users have filed a lawsuit against Apple in California federal court, claiming they lost $1.8 million to a fraudulent Sparrow Wallet app on iOS.

The fake app mimicked the legitimate Sparrow Wallet's branding and interface, convincing users they were interacting with the real thing.

The plaintiffs reported individual losses of $875K, $840K, and $120K respectively, after importing or creating wallets within the counterfeit app that quietly redirected their funds to scammers' wallets.

This is not an isolated incident, as a similar scam targeting Ledger Live on the Mac App Store in April 2026 stole over $9.5 million from more than 50 victims.

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