Do you ever really read the terms and conditions on Bitcoin projects?

[Junoto]

Who here makes it a habit to check the developer details and terms and conditions before downloading a digital wallet?



Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.





This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

[m2017]

Who here makes it a habit to check the developer details and terms and conditions before downloading a digital wallet?

How will this protect against fake apps?

The title of your thread prompted me to ask: how many users of this forum (including those who believe in bitcoin and are true BTC-followers) have fully read the bitcoin's WP?

Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.

Has this user already won this case in court?

Apple will simply add a clause to the user agreement in appstore (I'm sure their lawyers are already working on this) stating that they are not obligated to compensate users like the one who lost $ 1.8 million. And we'll return to the first question in your thread, which asks whether users read the user agreement. Ultimately, smartphone owners will be forced to agree to the terms (according to which they bear full responsibility for the loss of cryptocurrencies) if they want to access the apps.

This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

Storing $ 1.8 million in smartphone wallet? What kind of genius does that require?

[Charles-Tim]

Your topic title is different from what you posted.

Since I have been using Electrum wallet, I have not seen anywhere that I have to read terms of service and have to check it before proceeding. It is the responsibility of the holdes to know the right thing to do and avoid scam and hacks.

He downloaded fake app, not the real one. That is left for him.

[The Cryptovator]

Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.

This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

Do you believe those scammers could create fake apps to impersonate legit wallet apps, and then they couldn’t add developer details to look real? If the victim is confused by the fake apps, then reading the terms and developer details would prevent him from getting scammed.

It doesn’t make sense to identify fake apps just by reading terms and developer information; it’s easy to copy and paste from the original apps. We have to be careful when any apps or websites ask for a wallet seed phrase; we must make sure the apps are downloaded from the original website. Otherwise, you have to fall into a trap and lose funds.

[BABY SHOES]

Someone who lost $1.8 M you mean this is referring to this case isn't it? BTC Investor Losses 7,4 BTC with Fake Sparrow Wallet Mobile App

Verifying the developer alone is not enough, because there are many wallet apps out there too good to be true, it is not the right solution.
You still have to do with the original source, go to the website and there you will find the download to the application in this way you avoid the trap of fake applications.

[coinlary]

Verifying the developer alone is not enough, because there are many wallet apps out there too good to be true, it is not the right solution.
You still have to do with the original source, go to the website and there you will find the download to the application in this way you avoid the trap of fake applications.

Developer or whatever terms shouldn't have entered the thread at all. I don't think OP really understands how downloading a fake wallet works. All they probably know is that people lose money after downloading fake wallets.

I'll repeat this again,  after downloading a wallet, verify its signature. It's rare, but a lot could go wrong after clicking the "Download" button, which is why no one should assume everything is fine.

[Upgrade00]

The advice here will be to verify the signature when available to ascertain that you're downloading from the correct application.  You should also verify the source codes if you can to ensure there aren't malicious content and never use a wallet that is open source.

Open source applications do not have terms usually. The code itself acts as that, you can read that and decide if you want to use their service.

[coin-investor]

Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.

You should be responsible for your keys, and we've all been told never to share our keys or passphrase with anyone. If you understand this, you can't be tricked into entering your seed phrases, even if the platform is legit.

You should have asked the community first; a legit platform will never ask or trick you into entering your seed phrase. When in doubt, always ask; never be in a hurry to trust an application.

[BitMaxz]

That's sad news; he lost more than 1.8m in a wrong wallet. That's why cold storage or offline wallets have a big role in protecting your seed from dangerous internet.
This guy who scammed had a lack of knowledge about crypto; he shouldn't have been randomly typing the seed to a wallet that he didn't verify first, like the digital signature provided by the real developers before entering the seed. 

Honestly, any wallet that is exposed to the internet shouldn't be trusted because sometimes someone is monitoring your phone screen without you knowing unless everything is offline.

[sunsilk]

The user's negligence has little to nothing to do with the practice of reading the terms and conditions. Because if a user has looked into a fake app and it has copied the official TAC, then it can't be avoided that user will likely to fall for it.

But I feel sorry for the victim, that's lifesavings there that he's lost.  

This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

I agree to this, it should be about verifying first if it's an official release of the developer and not about the TAC.

Many fake apps are there for all services, exchanges/wallets. And we as users need to be careful to that because even someone who's been in crypto for a long time can potentially be a victim of it.

[bhadz]

Do you ever really read the terms and conditions on Bitcoin projects?

When we say 'bitcoin projects', there are a lot of things that go through the minds of people, especially the newbies. And this is where the scam projects in general get to fool their victims. With simple terms, such as these, should be taken with caution because they are used as if they're legitimate and directly in line with Bitcoin. With the terms and conditions, I think the majority are downloading without even reading the terms but it's a little detail that we need to have about what Upgrade and coinlary mentioned about verifying sig.

Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.

How I wish that he'd win the case, but we have an on the possibility of where it is going.

[Darker45]

If we're talking about the same case, the news has it that there were actually 3 of them who filed the case against Apple. The $1.8 million lost wasn't owned by one user alone.

I'm curious how they seemed to have completely brushed off the classic Bitcoin mantra "don't trust, verify". Perhaps even a quick check on the ratings and reviews on the app store itself could have given them some sort of warning.

Surely, a little research or due diligence would have been necessary considering that they're not just downloading a game or whatever but a wallet into which huge amounts would be deposited. The same research could have informed them that Sparrow Wallet doesn't have an iOS version.

Regardless, however, I don't think it's their responsibility alone. Apple has terribly failed in this case and they should pay damages.