Users lose $9.5M to fake Ledger wallet app on the Apple App Store
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But most reasonable people agree there's no tangible use case to not wearing a seatbelt. There are infinite tangible use cases to using software outside the app store, that reasonable people can all acknowledge.
Also they should check the app but wallet security is tricky - you can put subtle vulnerabilities in that are hard to spot.
I think the actual problem is with how the App Store changes the way people think about and relate to software. The fact is, running code on your computer is dangerous. You are trusting it with control over its operations. The responsible thing to do is provide platform-level safeguards (permissions systems, sandboxing) and engender a general understanding that you should only run an app vetted by someone you would hand your phone to.
This is fundamentally incompatible with software as a market, of course, so this path will never be taken.
Choice quote:
> Blockchain investigator ZachXBT later traced the stolen 5.92 BTC [0], showing it was rapidly funneled through a series of transactions into KuCoin deposit addresses, consistent with a broader laundering pattern identified across the incident.
Ah, there's nothing else quite like a Seychelles-based cryptocurrency exchange which was booted from the US for facilitating money laundering. This is good for Bitcoin.
Why did they cash out immediately? Wouldn't it be much smarter to send the seed phrase to a server and stay undetected for longer just collecting seed phrases until you sweep them all at once?
Not sure what the game theory optimal way of stealing is!
But perhaps they just made a transaction directly from the app to a hardcoded address. Not making any additional network requests might decrease the chance of being flagged by automated systems in the Appstore review process. Then again you could just disguise these requests as ordinary block chain connections.
I'm probably over thinking this and it was just a quick and dumb money grab.
If Walmart sells a dangerous product, even unknowingly, they can be liable. Why are digital stores different?
Saying the mere ability to access adult content is very likely to get one shut down, but crypto wallets are fine, feels like a double standard
Many people think what apple is doing makes malware impossible. That's not the case, the app store has plenty of malware and it's trivial to get malware on the app store.
The app store is trying to solve a subset of a subset of a subset of a subset of the problem, and then it doesn't even solve that. Yes, that means it sucks ass as a solution, unfortunately.
Or, to be more clear: the problem space is getting scammed. Apple is only even trying to solve an extraordinarily small subsection of that problem space.
You don't need an app to scam someone. And if you do have an app, it doesnt have to be outside the app store. And even if it's on the app store, it doesn't have to be malicious.
Even if apple did somehow, magically, eliminate malware there would still exist perfectly legitimate apps that can be used for scamming. And that would only address a tiny part of scamming anyway, because the vast majority of scams are not done using an app.
Like staying warm, it’s all about layers.
"I lost my retirement fund in a hack/Scam when I switched my Ledger over to my new computer and by accident downloaded a malicious ledger app from the Apple store. All my BTC gone in an instant."
Leaves me really shaking my head. If someone has the knowledge to even buy bitcoin or cryptocurrency, I imagine they have enough knowledge to know how utterly crime-ridden and risky of a speculation it is. It's like if someone decides to put their retirement fund into buying bulk illegal drugs and then selling them at a massive markup. Pretty risky, potential high upside, but given they assessed and then accepted the risk, hard to feel bad when they get robbed of all their drugs and lose their retirement funds.
uncontrollable laughter