There are new developments about crypto assets, which are seen as the coins of the future. There is a serious uneasiness among those who invest in this field, especially due to the increase in fraud and cyber-attack incidents in the crypto money market recently.
An example of this has occurred in the past months. An investor in the US has filed a class action lawsuit against Apple after its cryptocurrencies were stolen by a malicious app.
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Apple faces crypto theft lawsuit
Hadona Diep, a resident of the US state of Maryland and also a cybersecurity expert, filed a class action lawsuit against Apple Inc after a malicious app she downloaded stole cryptocurrencies. According to the claim of the plaintiff, Apple allowed the application in question to remain on the App Store despite knowing about its criminal activities.
In addition to this, Diep blamed the company for not notifying himself and other class members that his financial information had been seized, and suddenly became a hot topic all over the world.
The application that caused Apple to be sued for allegedly allowing it to host in the App Store is called Toast Plus. According to the case information, Diep downloaded the application in question to his iPhone in March 2020. He thought the Toast Plus app was a version of the well-known cryptocurrency wallet, Toast Wallet, due to the similar names and logos on the App Store.
At the same time, in January 2018, Diep stated that he transferred 474 Ripples from the cryptocurrency exchange Bittrex to a secure crypto wallet called Rippex, but then connected the Ripple key to the Toast Plus application in March 2021, after Rippex was shut down.
Diep did not control the application for several months, as he wanted to hold his 474 Ripple for investment purposes. However, after logging into Toast Plus for checking purposes in August 2021, he found that his account was deleted months ago, as well as theft of crypto money in his account.
Diep, who started researching on this, determined that the application in question was not actually a version of Toast Wallet and that it was a software that seizes cryptocurrencies by deceiving people with a similar logo and name.
Plaintiff alleges that Apple at this point violated a number of laws, including the Computer Fraud and Abuse Act, the Electronic Communications Privacy Act, the Maryland Personal Information Protection and Consumer Protection Laws, and each state’s Personal Information Protection and Consumer Protection Laws.