Despite alerts from the community, a deceptive version of the Rabby Wallet crypto application remains accessible on the Apple App Store, putting unsuspecting users at risk of financial loss. DeBank, the creators of the legitimate Rabby Wallet, have stated on February 16th that they do not have an authorized app on the store, as it is still undergoing the review process.
Fraudulent App Lingers Despite Reports
The imposter app, marketed as Rabby Wallet & Crypto Solution by Solution Development, has been on the App Store for multiple days as indicated by its version history. The continued existence of the app is baffling, given that numerous users have reported it to Apple for being fraudulent.
After encountering the counterfeit app, a user named manolodf took to Reddit and Apple’s discussion board on February 18th to raise awareness. The user, along with others, expressed frustration and disbelief over the app’s ability to remain on the platform despite reports of it being a scam.
Users Report Significant Financial Damages
Victims of the fake app have come forward sharing their experiences, including one who lost around $5,000 and sought support from Apple for possible reimbursement. Another disclosed a loss of 10% of their portfolio due to the sham app. A notable NFT investor, bthemouth, reported their wallets were emptied after they entered their seed phrase into the counterfeit app, revealing an address supposedly linked to the perpetrator holding nearly 14 Ethereum, equivalent to about $40,000.
This occurrence is not isolated, as past instances of fake Rabby wallet apps were reported on the App Store in October and December of the previous year. A similar incident happened with a phony Curve Finance app in February. In November, another incident involved a fraudulent Ledger Live app on Microsoft’s app store, which led to the theft of approximately $600,000.