30s Summary

A fake app imitating Curve Finance, a decentralized finance platform, has gained popularity in Apple’s app store. Despite user warnings, the app known as “Curve defi v3” has reached the top 100 finance apps and is circulating globally. The developer mimics the Curve logo, and falsely claims to offer services similar to the genuine platform, which has drawn in unsuspecting users. This is not the first time a counterfeit Curve Finance app has been seen on the Apple store; a similar scam occurred last February.

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A fake app imitating the decentralized finance platform Curve Finance has become popular in the Apple app store, making it to the top 100 finance apps on October 26th. Despite warnings from multiple users claiming it’s a scam, it’s been making rounds across the globe including in Europe, Latin America, New Zealand, the US, and Southeast Asia, potentially tricking naive users.

Even though the app’s store description is pretty badly written, it could still mislead less savvy users. It says: “Curve defi v3 is an awesome app. Stack the blocks for a perfect row and clear it!” We reached out to Curve Finance for their thoughts, but no one got back to us before this piece was published.

The scam app, known as “Curve defi v3” and developed by someone called “Tao Duong Van,” fools users by copying the Curve Finance logo and pretending to have the same features as the real Curve platform. The fake app makes big claims like offering token swaps, liquidity staking, and other DeFi services – but all of the reviews have given it one out of five stars and written “scam” or “hacker,” so something’s definitely off. An image from the fake app even says that it has over “30 million global users,” trying to seem legit and get more people to download and use it.

A post on social media by a fintech engineer named Babu was one of the first to spot the fake app. His tweet tagged the actual Curve Finance account and told people to “stay alert and report dodgy apps!” For now, all users are encouraged to report the fake app and avoid interacting with it while it’s still on the Apple app store.

This isn’t the first time a counterfeit Curve Finance app has made it onto the official Apple app store. Back in February, Curve Finance told their community to “watch out for scams” and confirmed that there’s no official DeFi Curve app on the app store after they found a fake app using their logo. This fake app was listed with MK Technology as its maker and had a rating of 4.6 out of 5 with nine reviews, advertising itself as a “powerful app” for managing borrowers and their loans.

Source: Cointelegraph