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Three Investors File $1.8M Bitcoin Lawsuit Against Apple Over Fake Wallet App on July 24

Enforcement Actions Security Incidents Stocks

2026-07-28 20:31:39

BTC-1.45%

AAPL0.97%

On July 24, three cryptocurrency investors filed a federal lawsuit against Apple (Nasdaq: AAPL) in the U.S. District Court for the Northern District of California, alleging they collectively lost $1.8 million in Bitcoin through a counterfeit wallet app listed on the App Store. The fake app impersonated Sparrow Wallet, a legitimate Bitcoin wallet available only on Windows, macOS, and Linux. Users were tricked into entering their recovery phrases, which the scammers used to transfer Bitcoin to wallets under their control. The lawsuit accuses Apple of failing to adequately review and monitor apps on its platform despite marketing the App Store as a safe and trusted environment. Apple removed the fraudulent apps and terminated the associated developer accounts on July 27.

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