Odaily Planet Daily News A malicious app Trezor Wallet Suite, a fake Trezor, appeared on the Apple App Store. The app has been on the shelves for several weeks and may have stolen thousands of people's funds. The malware was first discovered by Rafael Yakobi, managing partner of The Crypto Lawyers.

The actual iOS app for Trezor is called "Trezor Suite Lite," and enables users to track their portfolios and trade assets. If users forget their wallet app login details, wallet providers require them to store the seed phrase offline. The seed phrase is the last line of defense, and users can only use it to withdraw funds from the wallet application.
Trezor provides users with Shamir backups to help them generate multiple seed phrases, which can be stored in different physical locations. After downloading the app, users can choose a certain number of phrases to unlock funds. For example, they could generate three seed phrases but only need two to unlock their funds.
And the user who leaked the seed phrase with a fake Trezor Wallet Suite may have created one. Generating multiple seed phrases requires the user to create a new wallet. Multiple seed phrases ensure that even if a fake app gets hold of a phrase, it cannot access user funds.
As of press time, the fake app has become the second most searched app on the App Store in the UK. (BeInCrypto)