Pass it forward

Image: Wit Olszewski/ Shutterstock

A imitation copy of favourite billfold for cryptocurrency Ethereum, MyEtherWallet, is currently being sold in Apple’s App Store.

The app is created by a developer announced Nam Le, with no ties to the makers of the original MyEtherWallet, which currently exists only as a browser app.

On Sunday, MyEtherWallet established on Twitter that they’re not the makers of the app. TechCrunch first reported the information on Monday.

The tweet also notes that MEW( commonly used acronym for MyEtherWallet) is “Foss4lyfe, ” suggesting the company does not endorse benefiting from free and open-source software( FOSS ). MyEtherWallet is free to use, while the phony MyEtherWallet is being sold for $4.99.

This is not an official MyEtherWallet app.

Image: Stan Schroeder/ Mashable/ Apple

A wallet is a key element of most cryptocurrencies. It’s a piece of software that lets you place, receive, and send your cryptocoins, and it’s very important that it comes from a trusted entity.

It’s unsure whether the phony MEW app is an actual Ethereum wallet that’s trying to bring in some freight from the MEW name, or something much more nefarious. At worst, it was possible to plagiarizing users’ private keys and their fund, and using it in any way is emphatically not recommended.

A bogus MEW wallet on Apple’s App Store is a big deal. Good cryptocurrency pocketbooks for iOS are few and far between, and MEW is one of the most popular purses around; an inexperienced cryptocurrency user could easily set it reviewing it’s the real thing.

Scams in the world of cryptocurrencies are common. In point, precisely visiting MEW’s home page will launch a detailed seminar on how to make sure you’re actually seeing the real MEW and not a swindler website. A locate announced etherscamdb.info retains a record of known cryptocurrency victimizes, and many of the areas listed pretend to be MEW.

Mashable has contacted Apple for comment on this story and we’ll update it when we hear back.

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