Fake Curve Finance app scams users, tops global finance charts

A counterfeit application posing as the decentralized finance (DeFi) platform Curve Finance has gained traction in the Apple app store, ranking among the top 100 finance apps on Oct. 26.

Despite being flagged by multiple users as a scam, the app is trending in regions including Europe, Latin America, New Zealand, the United States and Southeast Asia, putting unsuspecting users at risk.

However, the app’s poorly crafted store description could still impact vulnerable users. It states: “Curve defi v3 is an amazing app. Arrange the blocks to make a perfect row and clear it!”

Impersonating Curve Finance

The fraudulent app, dubbed “Curve defi v3” and developed by “Tao Duong Van,” misleads users by mimicking the Curve Finance logo and functionality of the legitimate Curve platform.

The app claims to offer features like token swaps, liquidity staking and DeFi services, but all reviewers have reported it as one out of five stars and have stated “scam” or “hacker” in written reviews.

One image the fraudulent app uses states that it boasts over “30 million global users,” attempting to establish false credibility and convince victims to download and use it.

Social media warning

The fake Curve Finance Apple store app was highlighted in a post on X by user fintech engineer and app store scam identifier Babu.

His tweet was among the first to identify the issue, tagging the official Curve Finance X account and warning users to “stay vigilant and report suspicious apps!”

For now, users are advised to report the fake app and avoid engaging with it while it remains on the Apple app store.

Fool me once…

This is not the first time a fake app impersonating Curve Finance has been listed on the official Apple app store.

On Feb. 14, Curve Finance warned the X community to “beware of scams” and that there is no DeFi Curve App on the app store after discovering a fake app using the DeFi platform’s logo.

The unauthorized app was listed with MK Technology as its creator and was rated 4.6 out of 5 stars with nine reviews, promoting itself as a “powerful app” for managing borrowers and their loans.

source: https://cointelegraph.com/news/fake-curve-finance-app-scams-users-tops-finance-charts