Apple Inc. has removed a fake cryptocurrency app that had embarrassingly climbed to the third position in the finance category of the App Store.

The fake iOS app, pretending to be from MyEtherWallet, a service that offers storage for Ethereum-based cryptocurrencies, first appeared in the App Store around a week ago. It claimed to allow users to create or import wallets that allow users to store their cryptocurrency holding independently.

It’s not clear from reports whether the app actually delivered as promised or could have potentially been an outright scam that instead stole login details from users, but its biggest issue was that its fraudulent use of MyEtherWallet’s name. That’s where the drama began.

MyEtherWallet itself was made aware of the app appearing in the App Store on Sunday after a user by the name of  Chris Lundkvist tweeted it publicly, saying “hey @myetherwallet I’m guessing this is not you in the Apple App Store? This app is now 3rd most popular Finance app, I would approach with caution!” along with a link to the app.

In response, MyEtherWallet wrote that “this is NOT US. We have file reports and emailed and reported. Would appreciate the communities assistance in getting these scamtards out of our lives.”

That complaint was acted upon promptly by Apple, which said in an email sent to Reuters that the MyEtherWallet app had been removed from the App store, though when it was removed was not clear from the report. Apple also declined to say how many people had downloaded the app or whether it would issue those people refunds.

The fact that the fake cryptocurrency wallet was not only successfully listed on the App Store but actually came close to topping the charts is an embarrassment for a company that claims to vet apps carefully. Although Android apps rightfully gain most attention when it comes to malware and scams, the case of the fake MyEtherWallet serves as a warning to Apple customers that they should be careful and double-check the validity and security of any app they install.

Photo: cristiano_betta/Flickr