A warning has been issued by the creators of the Leather cryptocurrency wallet regarding a fake app that is currently circulating on the Apple App Store. This fraudulent app, known as a wallet drainer, has been reported by users as stealing digital assets from their wallets.

Wallet drainers are malicious apps or scripts designed to deceive users into revealing their secret passphrases or conducting harmful transactions, ultimately allowing attackers to steal all digital assets, including NFTs and cryptocurrency, from the victims’ wallets. These wallet drainers, also called crypto drainers, have become increasingly prevalent over the past year, with threat actors employing various tactics to lure users into compromising their wallets.

The developers of the legitimate Leather wallet recently alerted their community about the existence of a fake version of their wallet on the Apple App Store. The company emphasized that they do not currently offer an iOS app, making it clear that any such app found on the App Store is fraudulent. Despite their efforts to report the fake app to Apple, it remains available for download, posing a risk to users who have already fallen victim to it.

Reports have surfaced of users losing funds after entering their secret passphrases into the fake Leather wallet, with some experiencing financial losses within the past few days. The malicious app, published by ‘LetalComRu’ on the App Store, utilizes the genuine Leather logo to deceive users. Surprisingly, the fake app boasts a 4.9 out of 5.0 rating, with suspiciously identical user reviews that suggest potential manipulation.

While the exact number of downloads for this crypto drainer app remains unknown, concerns have been raised over its deceptive tactics and the failure of Apple to promptly address the issue. Despite Apple’s reputation for upholding high quality and security standards on the App Store, scammers have managed to circumvent vital checks, as evidenced by the presence of fraudulent apps like the fake Leather wallet.

As a precautionary measure, users are advised to exercise caution when downloading apps from the App Store and to verify the authenticity of the source before providing any sensitive information. By visiting official websites directly, such as leather.io in the case of Leather, users can mitigate the risk of falling prey to malicious apps that seek to exploit their digital assets.


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