Fake Rabby Wallet sneaks into Apple's App Store

2023-12-26 11:29:03

Apple has listed a fraudulent version of Rabby Wallet, a product that is only available on desktop devices.

A malicious clone of cryptocurrency wallet Rabby Wallet has been spotted on Apple‘s App Store as scammers are desperately trying to lure victims by posing as providers of legitimate products.

According to an X post from the Rabby Wallet account, the fake mobile application “has surfaced again,” and the team has emphasized that there’s no official mobile app “at the moment.” As of press time, Rabby Wallet is only available as an extension for Google Chrome and a standalone application for desktop devices, according to the project’s website.

The deion of the counterfeit application attributes its development to “Dinh Thi Phuonh Dung,” an entity with no prior applications published on the App Store. Adding to the suspicion, the developer’s privacy policy directs users to “freeprivacypolicy[dot]com,” raising questions about how the application managed to circumvent Apple’s moderation. At the time of writing, a search for “Rabby Wallet” places the fake application in the top slot, heightening concerns regarding the efficacy of Apple’s vetting process.

Developed by DeBank, Rabby Wallet is a multi-chain wallet with support for over 120 chains, including Arbitrum, Base and others.

In early 2023, crypto.news reported that operators of high-yielding investment schemes known as “pig butchering” discovered a way to evade security measures in Google Play and Apple’s App Store.

According to cybersecurity firm Sophos, the scammers have shifted their deceptive tactics from previous strategies involving malicious ads, social engineering, and counterfeit websites. Instead, they are now exploiting the trust associated with platforms like Google Play and the Apple App Store, making it easier for victims to fall prey to their scams.

For instance, the scammers are extending their reach to the victim’s social media accounts, particularly focusing on platforms like Facebook and Tinder, where they attempt to persuade individuals to download fraudulent applications promising high returns.

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