Apple Plays Whack-a-Mole with Scam Bitcoin Wallets on its App Store

After several reports of people getting scammed and duped out of their funds by fake wallets on Apple's App Store, the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term community has came together to fight the phenomenon.

Knowledgeable people were encouraged to go over the options available, identify the problematic wallets and post the findings on the forums. The community then turned to warn Apple and asked the company to remove the apps before more unsuspecting users will fall victim to them.

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One by one, most of the suspected offending apps have been removed from the App store by the Apple team and the community declared victory. However, some suspected problematic apps remained in the store, while new cryptocurrency wallet apps are being added all the time. Considering it is now obvious that whoever is in charge of vetting applications to the App store can't notice which are fake without the help of the community, it can be assumed that at least a portion of all new additions can be scams as well.

The reason users as well as the Apple team were duped is that some of the fake apps used a technique familiar to anyone following scam warnings in online trade - cloning. The clone apps stole the identity of legitimate companies, displaying their names or logos, thus falsely associating themselves with a trusted brand in the cryptocurrency or Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term industry.

If you are in the market for a new bitcoin wallet make sure to check reviews on trusted community forums beforehand and verify on the company's website that the link you are using to download is the current one and doesn't lead to a clone.