App Store approval woes continue as crypto scam steals thousands of dollars from users — “This is insane and should NEVER happen on Apple Ecosystem"

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“I’ve just lost 10% of my portfolio due to a fake Rabby_io application from the Apple store,”

Logo of Apple's App Store
(Image credit: Apple)

A crypto scam app on the App Store has stolen thousands of dollars from multiple users as yet another dodgy app gets past Apple’s approval system.

The app in question, Rabby Wallet & Crypto Solution, impersonating a platform called Rabby Wallet, was made available on the App Store at some point last week and steals money from users as soon as they input their private crypto key into the App. 

The official Rabby Wallet app is currently under review and developed by DeBank Global Pre. Ltd, meaning no current application on the App Store impersonating the crypto wallet is legitimate. It appears that the fake Rabby Wallet application is no longer available as iMore wasn’t able to access the listing on the App Store, but the damage has, unfortunately, already been done.

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Posts on Apple’s official forums as well as Reddit show multiple users who have fallen victim to the crypto scam. ManoloDF on Apple’s forums says they “have seen well over $100k stolen already from the Rabby Discord.”

ManoloDF adds, “This is insane and should NEVER happen on Apple Ecosystem, how does a counterfeit Crypto Wallet make it on the app store that just steals their money by posing as the real one,”

In the post, the user also shares comments from the Rabby Discord with distraught users, revealing the scale of the scam. One user, named Turns, said, “Put in my seed phrase last night, thought nothing of it and my 5k USD portfolio has been transferred this morning. Feeling f***ing ill.”

They added later on Sunday, “Less than 1 day of trying to use this wallet, and I manage to lose the majority of my holdings. Did I deserve it for not doing my due diligence? Sure. Am I going to complain to the heavens to Apple Support to try to get reimbursement? Sure. Will post an update if I see any luck.”

On X, more users chipped in, with one claiming, “I’ve just lost 10% of my portfolio due to a fake Rabby_io application from the Apple store.”

Gone for good?

Cryptocurrency transactions are irreversible and recipients are often anonymous, so these funds are likely going to be lost for good, but hopefully, some justice will be served, and funds will be claimed back.

While every app on the App Store goes through a strict approval process, some can fall through the cracks, like in 2021 when one iPhone user lost $600,000 in Bitcoin to a similar crypto app scam.

It’s always worth checking the official developer page on the App Store for each app before putting in any personal details, especially when it comes to accessing huge sums of money. Apple is always on the lookout for fraud on the App Store and, in 2022, recorded a record $2 billion in blocked transactions, even then, due diligence is required online, so just because it’s on the App Store doesn’t mean an app is legitimate. 

iMore will continue to monitor this story as things develop and report any updates as they unfold.

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John-Anthony Disotto
John-Anthony Disotto
Editor

John-Anthony Disotto is the Editor of iMore, helping you get the most from your Apple products and fixing things when your technology isn't behaving itself.

Based in Scotland, where he worked as a Genius Bar technician repairing iPhones, John-Anthony has used the Apple ecosystem for over a decade and prides himself on closing his Apple Watch activity rings.

He leads iMore's work on AI in the newsroom, testing where it genuinely improves editorial work and where it doesn't. Every story is written, edited, and signed off by a person.

Previously in editorial at TechRadar and Tom's Guide, John-Anthony is an avid film geek who won the Edinburgh International Film Festival Student Critics award in 2019. Away from Apple, he tinkers with game emulation and Linux on his Steam Deck.