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

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
How To Editor

John-Anthony Disotto is the How To Editor of iMore, ensuring you can get the most from your Apple products and helping fix things when your technology isn’t behaving itself.

Living in Scotland, where he worked for Apple as a technician focused on iOS and iPhone repairs at the Genius Bar, John-Anthony has used the Apple ecosystem for over a decade and prides himself in his ability to complete his Apple Watch activity rings.

John-Anthony has previously worked in editorial for collectable TCG websites and graduated from The University of Strathclyde where he won the Scottish Student Journalism Award for Website of the Year as Editor-in-Chief of his university paper. He is also an avid film geek, having previously written film reviews and received the Edinburgh International Film Festival Student Critics award in 2019. 

John-Anthony also loves to tinker with other non-Apple technology and enjoys playing around with game emulation and Linux on his Steam Deck.

In his spare time, John-Anthony can be found watching any sport under the sun from football to darts, taking the term “Lego house” far too literally as he runs out of space to display any more plastic bricks, or chilling on the couch with his French Bulldog, Kermit. 

  • FFR
    So the downloaded the wrong app.

    Should have checked the developer first.
    Reply
  • Ledsteplin
    Users trust Apple to vet these developers.
    Reply
  • FFR
    Don’t think it’s fair to blame Apple for crypto, when even real apps can be detriment to users, e.g. FTX
    Reply
  • Just_Me_D
    Fraud, murder, theft, abuse, exploitation etcetera should never happen, but they do.
    Reply
  • Annie_M
    If this is happening in the App Store, can you imagine what it will be like for those in the EU where they can side-load apps? I think that taking a bit of time and doing some due diligence is called for in all cases.
    Reply
  • TNT
    Ledsteplin said:
    Users trust Apple to vet these developers.
    Trust no one.
    Reply
  • FFR
    TNT said:
    Trust no one.


    Especially developers.
    Reply
  • Ledsteplin
    Annie_M said:
    If this is happening in the App Store, can you imagine what it will be like for those in the EU where they can side-load apps? I think that taking a bit of time and doing some due diligence is called for in all cases.

    Side-loading won't be any different. Apple has said they will vet those too. I've downloaded several enterprise apps, and never had issues with any of those. They had approved certificates, but not sure how close Apple looks at those. I always check the developer's credibility first.
    Reply
  • Ledsteplin
    TNT said:
    Trust no one.

    You're right. And I've been saying for a long time Apple can't be trusted, anymore than Google or any other company.
    Reply
  • FFR
    Ledsteplin said:
    Side-loading won't be any different. Apple has said they will vet those too. I've downloaded several enterprise apps, and never had issues with any of those. They had approved certificates, but not sure how close Apple looks at those. I always check the developer's credibility first.

    It will be very different, 17% instead of 20%

    But seriously good luck getting customer service or a refund on one of the new app stores in the eu.

    Ledsteplin said:
    You're right. And I've been saying for a long time Apple can't be trusted, anymore than Google or any other company.

    That’s not true.

    Google will do anything to harvest and sell as much user data as possible, even go as far as purchasing their users banking/credit card history. Apple not so much.


    Then there is this, yup totally the same

    Reply