Fake Curve Finance App Scams Users on App Store

1 month ago 31078

ARTICLE AD BOX

Key Takeaways

Curve Finance has issued warnings, advising users to access its services only through verified sources
Many unsuspecting users downloaded the app, believing it was the official one

A fake version of Curve Finance’s app called “Curve Defi v3” has surfaced in the App store, deceiving users and quickly rising in download rankings.

As per reports, many unsuspecting users downloaded the app, believing it was the official one, only to have sensitive data stolen, with some cases resulting in lost funds.

The fake app also copies the layout of Curve Finance’s real interface, making it challenging for users to spot the fraud at first glance. The app’s description, “Curve defi v3 is an amazing app. Arrange the blocks to make a perfect row and clear it!” misleads users by suggesting it’s a trusted app associated with the Curve platform.

Update on the fake app report.

Apparently Apple does work on taking it down on the weekend.

Please be careful and don't interact with this app while takedown is in progress. https://t.co/fTFZcnMbtl

— Curve Finance (@CurveFinance) October 26, 2024

In response, Curve Finance has issued warnings, advising users to access its services only through verified sources and to be cautious when downloading apps. The company has urged users to double-check any app’s legitimacy before installing to avoid security risks.

This is not the first time Curve Finance has been a subject of impersonation. Earlier this year, Curve Finance warned its users that there’s DeFi Curve App on the app store after discovering a fake app using its logo.

As per the Internet Crime Complaint Center (IC3), crypto scams have grown significantly. In 2022 alone, tens of thousands of Americans were affected, losing over $2 billion to crypto scams. The centre also reported a sharp increase in losses related to cryptocurrency, with the amount stolen rising by 45% from 2022 to 2023—totalling over $5.6 billion this year.

A recent UK National Crime Agency report revealed that around $5.1 billion in illicit crypto transactions are linked to the UK annually. Similarly, Brazilian authorities recently seized $28.7 million worth of cryptocurrency in an unrelated operation.