Apple removed fake app after test wallet was drained, crypto platform DefiLlama says

DefiLlama, a large open-source data aggregator for decentralized finance, said it delayed the public launch of its mobile app after fake versions of the crypto analytics platform appeared in Apple's App Store. 

The episode is drawing fresh scrutiny to how quickly major tech platforms respond when impersonation apps are reported.

Here's what to know

According to Crypto.news, the founder going by the name "0xngmi" said the launch delay was tied to fake apps using DefiLlama's name. According to the outlet, the team spent months reporting a lookalike listing on trademark and impersonation grounds.

Those complaints, he said, did not initially result in a takedown. The team then loaded a small test wallet, installed the suspicious app, and said the funds disappeared. "App was taken down in days after that," he wrote. He did not specify how much was lost from the test wallet.

In 0xngmi's account, as Crypto.news reported, the company delayed releasing its own app for safety reasons and "waited 'till all the fake apps were taken down before we launched ours to avoid any user getting scammed." Apple has not confirmed DefiLlama's version of the timeline.

More background

The incident combines two risks that can affect everyday users: app-store impersonation and crypto theft. People who are comfortable downloading software from major platforms may assume a listed app has already been thoroughly vetted, creating a false sense of security.