DefiLlama delayed the launch of its official mobile app for months for one reason: waiting for Apple to clear a clone app from the App Store. DefiLlama’s pseudonymous founder, 0xngmi, confirmed this move in a post on X. The team chose to hold the official release to prevent users from being deceived and falling victim to the fake app that was already circulating.
The removal process was far from instant. The DefiLlama team had to fight for months, requesting Apple to remove a malicious app using their name. The iPhone maker was slow to act, only moving to clean its app store within days after the DefiLlama team provided definitive proof: documentation of a small wallet that had been completely drained by hackers.
Slow App Store Response
This incident highlights once again the flaws in the moderation systems of major distribution platforms, which continue to be exploited by crypto scammers. Apple’s slow response to developer reports has sparked frustration, especially since a single clone app can empty a user’s assets in seconds. The issue of screening failures is currently viral, aligning with top Google search trends highlighting a class-action lawsuit against Apple for allowing fake crypto wallet apps in its store.
A Recurring Pattern Claiming Victims
The entry of malicious stealer apps into official platforms is nothing new for iOS users. Throughout 2024, fake apps posing as Rabby Wallet and Curve Finance managed to slip into the App Store. Because they used the exact same names and logos, unsuspecting users were easily tricked into giving up access to their wallets.
Outside of the Apple ecosystem, similar issues have occurred. In November 2023, a fake Ledger Live app successfully bypassed Microsoft Store moderation. The losses were significant: the fraudulent app stole $588,000 from just 38 transactions of unsuspecting users.
Security Over Speed
DefiLlama’s decision to hold back a new product to protect user funds is an anomaly in the crypto industry, which typically demands fast releases. While app store providers struggle to close their moderation gaps, developers’ caution serves as the first line of defense. Rather than risking users losing money, delaying the launch seems to be the most rational option today.
Reported by Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
