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A New Fake Bitcoin Wallet Gets Approved In The Apple App Store

The Apple App Store team continues to approve malicious bitcoin wallet applications. The latest possible scam wallet goes by the name of SAIL Wallet, although there is a real chance this application will eventually steal one’s bitcoins. It has been awhile since such an application popped up in the app store, yet it goes to show criminals feel this is still a lucrative business model.

SAIL Wallet Is Potentially Fake

It is always somewhat disconcerting when a new bitcoin wallet appears in the Apple App Store from an unknown developer. Over the past few years, several scam wallets have been discovered which will ultimately steal user funds. Most of these wallets are seemingly based on the Breadwallet application, which is one of the very few legitimate iOS bitcoin wallet applications in existence today.

SAIL Wallet offers plenty of reason for concern, though. While its design may look professional, no one has heard of this project before. Moreover, there does not appear to be a GitHub repository for this project, which could indicate it has been developed behind closed doors. However, there is no website associated with this project either, which does not bode well for the legitimacy of this application by any means.

It appears the person responsible for this application goes by the name of Huynh Tuan. As one would expect, there is no such person associated with bitcoin or the development of this wallet in an official capacity. It is possible this application was published using a stolen Apple Developer account, although it appears this developer has not released any other applications so far. When one’s first venture into the iOS ecosystem is releasing a bitcoin wallet app, there is plenty of reason to be somewhat concerned.

It is a bit unclear who keeps submitting malicious bitcoin wallet apps to the Apple App Store, though. What is even more troubling is how these submissions seemingly get approved without too many problems. It is evident the Apple staffers are not aware of the dangers some of these wallets can pose, otherwise they would be far more careful regarding which apps get approved. Be careful when downloading the SAIL Wallet, as its legitimacy remains a big unknown factor for the time being.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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