Apple Sued for 2.6 Billion Won Over Fake Cryptocurrency Wallet App

Apple has been sued in California due to a fake cryptocurrency wallet app available on the iOS App Store. Three users claim to have lost approximately $1.8 million, equivalent to about 2.6 billion won. The incident occurred between May and August 2025 when an app disguised as 'Sparrow Wallet' circulated on the App Store. Despite the fact that a legitimate Sparrow Wallet mobile app does not exist, some users failed to verify this and downloaded it. The problematic app tricked users into entering their 'seed phrases' to steal their funds. The three plaintiffs reported losses of $875,000, $840,000, and $120,000 in Bitcoin (BTC), respectively. They argue that Apple has promoted the App Store as a safe and reliable marketplace, but in reality, it is not. A key point highlighted in the lawsuit is Apple's vetting system, which allowed the App Store to include the problematic app in a collection related to virtual assets, thereby increasing its credibility. The plaintiffs are holding Apple accountable for false advertising and violations of consumer protection laws, seeking compensation based on Bitcoin values and punitive damages. Apple has stated that it has removed the problematic app and suspended the related developer accounts.