Curve Finance Scam Continues to Reappear, Causing Concern for Users

Key Points:

• A Curve Finance scam app resurfaced on Apple’s App Store for the third time, continuing to deceive users with false claims of token swaps.
• Despite user warnings and removals, the app remains active in multiple regions.

According to Cointelegraph, for the third time this year, a Curve Finance scam app has appeared in Apple’s App Store and continues to dupe users after previous takedowns.

Read more: Curve Founder Michael Egorov Promises to Focus on Improving Platform Stability 

Curve Finance Scam App Re-Enters Apple’s App Store

Claiming to be a legitimate application for token swaps and liquidity staking, the Curve Finance scam app has been downloaded countless times and has reached high positions in finance categories in many regions.

The users and cybersecurity experts have marked it as a scam, but the app can still be accessed in Europe, Latin America, the US, New Zealand, and Southeast Asia. Reviews by users pointed to huge financial losses and security issues, citing that many of them lost money since the nature of the app was fraudulent and they were duped by it.

Frautect, an India-based cybersecurity firm, co-founder Babu Lal warned that this was turning out to be a “global issue” to both individual users and the general financial ecosystem. He further added that the persistence of such fraud creates issues of trust, compliance headaches, and financial liabilities.

Growing Crypto Scams Attack Mobile Users

The Curve Finance scam app was pretty popular in the App Store, reaching as high as the top 100 finance apps despite several reports of fraud. Its reappearance shows how very hard regulating the app stores of crypto-related scams is.

That’s part of a larger trend of crypto scams that hit mobile users. In September, one cybersecurity firm, Check Point, discovered a malicious Android app in the Google Play Store that had swindled nearly $70,000 in cryptocurrency over five months. The app was removed after being downloaded more than 10,000 times and marked the first time a “drainer” app exclusively targeted mobile crypto holders.