Apple recently announced the removal of a paid iOS application from its App Store because MyEtherWallet, a free service for storing digital currency, complained that the program was inappropriately using its name.
“This is NOT US,” MyEtherWallet cited on its official Twitter account.
As per one report, the popular MyEtherWallet digital wallet app was sold for $4.99 in Apple’s iOS App Store. The app is just one week old, which was falsely named at best, or a scam at worst, resulting in it rising to the third most popular position in the paid finance category over the weekend. Nam Le is listed as the app developer, who has no connection to the company and no history with bitcoin. As far as other apps, Le’s portfolio includes a panda warrior game and a fishing game. MyEtherWallet.com is also considered as the most prevalent services for storing cryptocurrencies.
Tom Neumayr, an Apple spokesperson, mentioned in an email that the MyEtherWallet app had been removed from the App store. He failed to mentioned how many customers had purchased the app, or if Apple would provide refunds.
The cryptocurrency climbed to a record $17,000 before dropping to around $14,000. It has got another lift on Monday as stocks initiated swapping. The app is advertised as a digital wallet that will give the users opportunity to stock cryptocurrencies independent of an exchange, which means handlers can use their money if something goes erroneous at the exchange. A digital wallet also comprises a public address where money can be sent, and a private key identified only by the holder.
Jordan Spence, MyEtherWallet spokesman, announced that the developer had not noticed signs that the iOS app was cast-off to steal from people who had downloaded it, but that the team was still exploring to validate that.
Le’s app also allows access to stock keys coded locally on your device, but turning over your bitcoin to an unidentified wallet developer with a deliberately false name is a risky plan to say the least.