World’s largest company, Apple, is charged with a class-action lawsuit by a collective group of holders of XRP, who claim to lost their money due to phishing applications.
Hadona Diep, a cybersecurity IT specialist, filed the class-action lawsuit in Federal District Court in Maryland on September 16 on behalf of others in a similar situation.
The legal battle focuses on Toast Plus, a Bitcoin wallet. Diep argues that the Cupertino-based tech behemoth should be held accountable for allowing the dangerous program and failing to remove it from the App Store.
Apple has long been proud of its stringent application approval process, which claims distinguishes it from archrival Android.
Because of its tightly controlled ecosystem, the firm has complete control over the placement of programs on the "monopolistic" App Store.
In March 2020, the plaintiff downloaded the program to her iPhone. Thus, because of its "very similar" branding, she assumed it was a version of Toast Wallet:
“Plaintiff assumed Toast Plus was a fork of Toast Wallet, a well-known Bitcoin wallet since the titles were similar and the app's branding in the App Store was identical or almost identical.”
Before the project went down in January 2018, Diep used Rippex, a popular XRP desktop wallet, to store her tokens.
She switched her assets to the Toast Plus app in March, only to learn that her XRPs vanished, and her account had been canceled in August.
Later, she realized she was scammed for a phishing program that pretended to be a legitimate wallet.
Unfortunately, this destruction caused her $5,000.
Members of the r/XRP Reddit community began protesting in early 2021 that Toast Wallet had been hacked despite ranking high in search results.
Some individuals who had their accounts emptied by fraudsters viewed the situation as "depressing."
The plaintiff is requesting that Apple should compensate her and all other members of the class for their carelessness.
The Toast Plus issue is far beyond a one-time occurrence. Wandera, a security company, found 17 harmful applications in the App Store in 2019.
Some believe that around 2% of the top applications on the marketplace are frauds.
Apple's 500-person app review staff may not be able to provide enough customer safety.
Eric Friedman, the company's senior engineer, recently compared the store's security to "a butter knife":
“App Review is showing up to a gunfight with a plastic butter knife.”