Ponzi crypto schemes and malicious crypto actors are everywhere trying to loot public money. A man lost at least 17.1 Bitcoins which he had acquired from an app called Trezor. Still in awe and shock because he downloaded the app from the App Store of Apple on his iPhone.
While crypto business is as legit and authentic as any other business, but it is massively subjected to scams and frauds. This is why there is lack of crypto adoption because there are a great number of crypto Ponzi schemes operating in the industry. Not only schemes but there are several applications as well which are designed to commit fraud upon a crypto investor.
A similar incident took place with a man who had put on the line his life-earned savings through Bitcoin investment.
Phillipe Christodoulou is that unfortunate man who almost had the leading coin but it turned out to be a scam.
It all started when somebody told him that there is an app called Trezor and can be used to acquire Bitcoins at lower rates. Just on the basis of someone’s advice, Christodoulou decided to download the app and invest in Bitcoin.
Christodoulou told that since he is an iphone user therefore he wanted to download the app from the app store of Apple. When he went to the Apple store, he found the app there which gave him the confidence that the app is authentic. He downloaded the app on his mobile phone and started to use it for acquiring Bitcoins. He thereafter linked his account with the app for the purposes of providing funds to it for onward investment.
Christodoulou told that all the money which he had invested was real hard money which he had kept safe for long. Because he was in the knowledge that Bitcoin’s value was surging, his sole purpose was to get a few Bitcoins for him.
He told that through Terzor he purchased at least 17.1 Bitcoins and was happy that his investment was soaring day by day. But his joy did not last long as one usual day he logged into the app to look for his balance. He learned that his balance was totally gone and vanished and was showing zero balance. Being confused, he wrote to Trezor and asked what happened to his funds. It was then when Trezor told him that he might have downloaded a fake Trezor app and they were sorry for his loss.
At that moment he realized that he had been scammed and all his hard-earned money has been stolen. When his money was stolen, his balance sheet was worth over US$ 600,000. However, if one calculates the loss accumulated by Christodoulou today, then it comes into millions.
Christodoulou was of the view that he would now never engage in any crypto transactions. He also said that how come Apple did not know that the application was fake. He said that he is an Apple user from day one and has iPhone, Mac, and Apple tab as well. He blindly trusted Apple all his life and now he has been scammed because Apple did not realize it was a fake app, stated Christodoulou.