Scam Alert: Fraudulent Curve Finance App Surfaces on Apple Store

An app posing as the popular decentralized finance protocol Curve has recently been discovered on Apple’s App Store. Developers have issued a warning to users, emphasizing that there is no official DeFi Curve app available. The staff at Curve urged caution and highlighted that a fake app with their logo has been identified. They advised users to stay safe and be aware of potential scams.

The unauthorized Curve app claims to be created by MK Technology Co. Ltd. On its official website hosted by Google Sites, there is only one contact address provided – a Proton Mail address – along with a descriptor stating it is associated with Curve Finance. It is worth noting that MK Technology has not created any other apps on the App Store. Despite being a fraudulent app, it has managed to attain a relatively high rating of 4.6 out of 5 stars based on nine reviews. The alleged scammer behind the app promotes it as a powerful tool for managing borrowers and loans. They also mention an in-app puzzle game in the gaming section.

It remains unclear whether this fake app is simply using Curve Finance’s branding without authorization or if it has been specifically designed to steal users’ wallet assets by exploiting in-app features. This highlights the ongoing issue of fake cryptocurrency applications. One example is a malicious Trezor wallet app that Apple removed from its App Store on June 21, 2023. This fake app prompted users to enter their wallet seed phrases, allowing hackers to steal their crypto funds. Similarly, on November 5, 2023, Microsoft removed a fake Ledger app for the third time in two years after it managed to steal $588,000 across 38 transactions before being taken down.

These incidents serve as a reminder of the risks associated with trusting unofficial or unverified apps. Users must exercise caution and carry out thorough research before downloading any financial or cryptocurrency-related applications. It is essential to only use official platforms, such as the official websites of protocols or verified app stores, to download apps. This helps to minimize the chances of falling victim to scams and avoid potential loss of funds. It is crucial to closely scrutinize the developer information and user reviews before using any app, as this can provide valuable insights into its legitimacy and security.

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