Another fake Curve Finance app in the Apple App Store: users lose money due to scams

A fake app pretending to be the well-known crypto platform Curve Finance has appeared in the Apple App Store for the third time this year. Despite previous takedowns, the rogue app continues to deceive users and has already led to multiple reports of financial losses and security issues. Cybersecurity experts warn of the dangers of these types of apps, which target unsuspecting crypto investors.

Rise of fake apps worldwide problem

Babu Lal, co-founder of Indian cybersecurity company Frautect, exposed the scam. He calls this rise in fake apps a “global problem” that damages trust in the crypto sector. Users report issues such as unauthorized withdrawals and missing credits in reviews, and many warn others with one-star ratings. One user even stated that his investment “vanished without a trace” after transferring money through the app.

According to Frautect, this app fits into a broader trend in which more and more fake crypto apps appear in both the Apple App Store and Google Play. Many of these apps pose as trustworthy platforms and take advantage of the trust that users place in well-known brands. Frautect reports that it has already removed more than 6,500 fraudulent apps in the financial category.

Better security measures are needed

Lal emphasizes that app stores urgently need to implement better security measures to protect users from scams. “Until security is tightened, scammers will continue to find new methods,” he warns. He calls on Apple and Google to take additional steps to prevent fraud in their platforms.

The rise of fake apps like Curve Finance’s shows how vulnerable crypto investors are in this fast-growing but relatively unregulated sector. The urgent demand for better security is growing as users increasingly risk major financial losses from fraudulent apps on major app stores.