Apple delists third highest ranked finance app from store after it was reported to be ‘fake’

Popular digital wallet service provider myetherwallet.com has distanced itself from a fake cryptocurrency wallet app which was featuring on Apple Store. The app “MyEtherWallet” featuring on iOS store was ranked as high as the third most popular app under the finance category.

This is NOT US. We have file reports and emailed and reported. Would appreciate the communities assistance in getting these scamtards out of our lives.

PS: We are #Foss4Lyfe https://t.co/SmI8cqNvxA

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— MyEtherWallet.com (@myetherwallet) December 10, 2017

The app was taken off the store by Apple after the incident was brought to Apple’s notice by myetherwallet.com. Though the app didn’t result in any scam it tried to make money using the popularity of the online wallet service provider.

The false MyEtherWallet app has been removed from the iOS store. Finally.

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Thank you a TON to everyone who signal boosted this for us, including @verge and @TechCrunch.

You’re all the best.

— MyEtherWallet.com (@myetherwallet) December 11, 2017

Reports suggest the app was available on Apple store after cropping up just a week ago. The app was coming at a price of USD 4.99. The app used to let its users create or import a wallet where one could store cryptocurrencies.

The developer of the app was listed as Nam Le, who also has three more apps featuring on the store, two of them being gaming apps.

The app rising to prominence in just a week shows the extreme popularity of cryptocurrencies. This is also a great example of how people can fall prey to false wallet apps where hackers can siphon a fortune off its users.

As the technology is still in developing stages it is expected to face certain issues. In fact, back in July, hackers made away with Ether worth USD 31 million as a result of an error from a developer.

What comes as a surprise is how the app could get itself listed, let alone topping the charts, as Apple's is the most stringent stores when it comes to listing an app. Apple has always been known for being very stern before clearing an app for listing.

Cryptocurrency is the most talked about thing these days after Bitcoin soared to dizzying lifetimes highs touching USD 19,000 a couple of days back on a certain exchange.