In a recent development, it was revealed that a fake Curve Finance app leaked into Apple’s app store. Despite warnings from the community, this application gained popularity. The altcoin project issued a warning message, urging users to be careful.
The application imitating this altcoin project entered the top 100 in the store!
As you follow from Kriptokoin.com, fraud and hacking incidents in the crypto world are not rare at all. Fraudsters reach their victims with many different methods. One of these is undoubtedly copycat applications. Now, an application that imitates the decentralised finance (DeFi) platform Curve Finance has emerged. Interestingly, this fake app is available in the Apple app store. Moreover, this app even made it into the top 100 finance apps on 26 October. After this situation emerged, the altcoin project issued a warning message:
Update on the fake app report. It appears that Apple is working to remove this app over the weekend. Please be careful and do not interact with this app while the removal is in progress.
Despite being flagged as a scam by multiple users, the app trended in regions such as Europe, Latin America, New Zealand, the US and Southeast Asia. Thus, it put unsuspecting users at risk. However, it is possible that the store description of the app, though bad, still influences uninformed users. The description reads, ‘Curve Defi v3 is a great app. Organise and clear blocks to create a perfect sequence!’
A close look at the scam!
The name of the application in question is ‘Curve defi v3’ in the store. The developer of this application appears as ‘Tao Duong Van’. However, the logo it uses is the logo of the altcoin project Curve Finance. Thus, it misleads users by imitating the functionality of the legal Curve platform.
The fake app claims to have features such as token exchange, liquidity staking, and DeFi services. All reviewers rated the app one star. They also labelled it a ‘scam’ or ‘hacker’ in written reviews. An image used by the fake application states that it has ‘more than 30 million global users’, trying to create a false credibility and persuade victims to download and use this application.
The first warning came from social media!
The fake Curve Finance application was detected by a user named Babu, a fintech engineer. Babu shared this detection on X and tagged the official Curve Finance X account. He also warned users to ‘be vigilant and report suspicious applications’. For now, users are advised to report the fake app and avoid interacting with it as long as it remains in the Apple app store.
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