Plaintiffs allege Apple failed to remove a fraudulent app, resulting in $1.84 million in stolen Bitcoin after users entered seed phrases.
Apple is being sued for allegedly retaining a fake Bitcoin wallet app on its App Store for over a week after reports of $875,000 in losses. The lawsuit claims another user lost $840,000 due to the delay, with total stolen funds reaching $1.84 million.
The plaintiffs argue Apple’s marketing misled users into believing apps were vetted and secure. The company has faced similar lawsuits, including a 2021 case dismissed by a federal judge. The fraudulent app was reportedly ranked and featured alongside legitimate wallets.
The lawsuit seeks reimbursement, damages, and potential multiplied penalties. Apple stated it has removed apps impersonating Sparrow Wallet.