An App Store approval does not necessarily mean a cryptocurrency wallet is safe. Three crypto investors have sued Apple after allegedly losing approximately $1.8 million in Bitcoin through an iPhone app impersonating Sparrow Wallet, a legitimate desktop-only wallet. The filing also highlights repeated warnings from real Sparrow Wallet creator Craig Raw, who stated in a January 2024 social media post that “there is still a scam ‘Sparrow Wallet’ app on the @Apple App Store, despite myself and others having reported it weeks ago.” In statements to media outlets, Apple said it swiftly removed any apps impersonating Sparrow Wallet and banned the associated developer accounts. To protect digital assets, investors must independently verify that an official mobile app exists on a developer’s primary website before downloading anything from an app store.