Fake Curve Finance app hits Apple’s top 100, exposing users to DeFi scam risks

A fake finance application posing as the popular platform, Curve Finance, ranks among Apple’s top 100 applications on October 26, leaving users vulnerable to DeFi scams. The counterfeit app is still trending in Europe, Latin America, New Zealand, the United States and Southeast Asia despite multiple alarms raised against it.

This is not the first time the Finance app has been impersonated. On February 14, Curve’s team warned users to remain cautious of scams after spotting a similar app with their logo on Apple’s store.

‘Curve defi v3’ tops Apple’s Store charts despite multiple alerts against it

Fintech engineer and scam identifier Babu was among the first to report the fraudulent app impersonating the Curve Finance application. In an X post, he commented:

A scam app impersonating Curve is trending in the top 100 finance apps across Europe, LATAM, New Zealand, USA and Southeast Asia.

~Babu

He even cautioned users, asking them to verify apps before downloading them and reporting questionable platforms.

The counterfeit app impersonating Circle is identified as ‘Curve defi v3’, developed by Tao Duong Van and is still topping Apple store charts despite multiple users already reporting it. The app mimicked Curve’s app logo and functionality and claimed it offered promising services like token swaps, liquidity staking, and DeFi services. Even in its posted images, the app claimed it had over 30 million global users, trying to mislead the public into downloading it.

The application has already had reviewers giving it only one out of five stars and tagging it “scam” or “hacker” in some reviews.

The Curve has had other developers replicating its logo design and functionality

On February 14, Curve’s developers warned users of a fake app with its logo making rounds on Apple’s store. At the time, the counterfeit platform was said to be built by  MK Technology Co. Ltd, raking in 4.6 out of 5 stars with the first reviews.

The app consistently publicized itself as a powerful platform that could help users oversee their borrowers and loans. It even claimed to offer in-app features like Puzzle games with different play modes, including classic and shuffle, hoping to lure in more users.