Stacks

Portal

Read

Send

<div class="protos">
 <div>
 <div>
 <div>
 A crypto-draining app that mimics bitcoin wallet Leather was available to download via Apple’s app store for at least four years, despite being the subject of repeated warnings and reportedly stealing $120,000 in Stacks (STX).
 Last Monday, <a rel="noopener noreferrer nofollow" title="Leather" href="https://thebittimes.com/tag/leather.html">Leather</a> warned its followers on X (formerly Twitter) to avoid downloading the fake app and entering any seed phrases. It clarified that it hadn’t yet issued an iOS app, saying “We promise we’ll let you know once our mobile app is actually ready.”
 On Monday, Portal Finance founder George Burke claimed to show a transaction demonstrating that the fake app stole just under 38,000 STX, worth roughly $120,000. He also told the co-creator of Stacks to warn his community about the <a rel="noopener noreferrer nofollow" title="Scam" href="https://thebittimes.com/tag/scam.html">Scam</a>.&nbsp;&nbsp;
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Just lost my ordinals. Might have downloaded a bad version of Leather Wallet from the App Store. Unbelievable. All my decent stuff went here.https://t.co/8zG9061Tiw— VonDoom.eth ️ (@CryptoVonDoom) March 10, 2024
 </blockquote>
 </div>
 </figure>
 Read more: China has problems with fake wallets copying its digital yuan
 X user CryptoVonDoom also suffered losses, claiming that at least 27 NFTs, ordinals, ‘rare’ sats, and bitcoin were stolen after falling for the app. They said, “At a first and second glance it seems fine but I wonder if I actually processed the developer name I would have slightly paused.” The app was published by ‘LetalComRu.’
 “The stolen branding from @LeatherBTC is just so clean I likely wouldn’t have thought about it,” CryptoVonDoom added. The fake Leather app used positive reviews likely created using AI, the Leather logo, and descriptions of a typical crypto wallet to create an illusion of authenticity.&nbsp;
 <figure class="wp-block-image size-large is-resized"><img decoding="async" loading="lazy" src="https://cdn.thebittimes.com/images/2024/03/12/464a9f66b7dcfe4420bfa422e085bbdb.webp" alt class="wp-image-62303" width="655" height="768" srcset="https://cdn.thebittimes.com/images/2024/03/12/464a9f66b7dcfe4420bfa422e085bbdb.webp 873w, https://cdn.thebittimes.com/images/2024/03/12/464a9f66b7dcfe4420bfa422e085bbdb.webp 256w, https://cdn.thebittimes.com/images/2024/03/12/464a9f66b7dcfe4420bfa422e085bbdb.webp 768w, https://cdn.thebittimes.com/images/2024/03/12/464a9f66b7dcfe4420bfa422e085bbdb.webp 1017w" sizes="(max-width: 655px) 100vw, 655px">
 <figcaption class="wp-element-caption">
 Screenshot of the fake Leather app taken by Bleeping Computer.
 </figcaption>
 </figure>
 Read more: Nearly $580K drained with Cointelegraph, Wallet Connect fake airdrop
 Users are tricked into inputting their recovery seed phrase into the app. Hackers can then use this phrase to transfer all your assets to their own crypto wallets.&nbsp;&nbsp;
 Indeed, the fake app was available via Apple’s app store as recently as Monday morning, despite warnings from <a rel="noopener noreferrer nofollow" title="Leather" href="https://thebittimes.com/tag/leather.html">Leather</a> over a week ago. <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>VonDoom noted that the app had been listed for at least four <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a>. At the time of writing the app appears to have been taken down.&nbsp;
 Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.
 </div>
 </div>
 </div>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/fake-crypto-wallet-in-app-store-for-four-years-drained-120k-in-stacks-tbt82328.html">https://thebittimes.com/fake-crypto-wallet-in-app-store-for-four-years-drained-120k-in-stacks-tbt82328.html</a>

Fake crypto wallet in App Store for four years drained $120K in Stacks

TheBitTimes

Other articles published on Mar 12, 2024

Solana Demand Soars As Institutions Buy Up SOL At A Massive 870% Premium

Bitcoin Soars Past $70,000: Analysts Anticipate Potential Market Retracement

Affordable Excellence: The TECNO SPARK 20 Pro+ Unveiled and Examined

CryptoTax joins hands with Infinite Block to provide crypto custodial and accounting services

Ethereum Dencum Upgrade: Final Countdown Begins

Trump Takes A Stance: No Crackdown On Bitcoin And Cryptocurrencies If Elected President

Join our free newsletter for daily crypto updates!