Fake Rabby Wallet Discovered on Apple App Store

2023-12-26 16:56:04

Last updated: December 25, 2023 23:45 EST . 1 min read

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.Source: PixabayA fraudulent version of open source crypto wallet Rabby Wallet has appeared on the Apple App Store.

According to an X post from the official Rabby Wallet account, it’s not the first time scammers have tried to impersonate its wallet.

“A FAKE mobile app has surfaced again. We want to emphasize that we DO NOT have an official mobile app at the moment,” Rabby Wallet wrote, linking to a previous post from October 2 with a similar warning.

According to the project’s website, Rabby Wallet is currently accessible solely as a Google Chrome extension and a standalone application for desktop devices. A mobile app is “in process,” the website also notes.

The deion of the counterfeit application notes that its creator is “Dinh Thi Phuonh Dung,” who has no prior applications published on the App Store. The developer’s privacy policy also directs users to an obviously fake website titled “freeprivacypolicy.com”.

At time of writing, a search for “Rabby Wallet” on the App Store shows the counterfeit app as the first result, raising concerns about the effectiveness of Apple’s vetting process of its apps.

Rabby Wallet, created by DeBank, is a multi-chain wallet that boasts compatibility with more than 120 chains, encompassing networks such as Arbitrum, Base, and others.

One of the wallet’s notable features is its ability to simulate and show users what will happen after they sign any transaction.

Fake apps have become an increasingly common way for scammers to lure victims.

By posing as providers of legitimate products, scammers can trick users into sending cryptocurrency to fraudulent websites or giving up sensitive information such as login details about their accounts.

Last month, $588,000 worth of bitcoin was stolen after a fake app impersonating the Ledger Live wallet infiltrated Microsoft’s App Store.

The fraudulent Ledger Live app specifically targeted PC users and managed to secure a 4.5 score from 16 users. The scammer employed graphics closely resembling the authentic Ledger Live app to deceive customers, likely supplementing the scheme with fabricated reviews to lure unsuspecting users.

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