UniSat, a Bitcoin wallet service provider, has issued a warning about a fraudulent iOS app called ‘unisatWallet’ available on Apple’s App Store.
Zunyi Yibai Network Technology produced the program, which resembles UniSat’s decentralized digital asset storage service. It’s unclear how long the false app has been around, and its makers remain unknown. As of yet, no people have left reviews or reported losses.
The counterfeit wallet is most likely an attempt to acquire private keys and seed phrases, which are critical for safeguarding cryptocurrencycurrency wallets. These aspects allow users to recover or move their wallets, but they can also be used by hackers to steal tokens.
UniSat’s legal wallet has over 300,000 weekly users and works as a browser plugin, similar to MetaMask. The warning comes after a double-spend assault on UniSat’s platform last year, when BRC-20 assets were compromised owing to a coding issue.
BRC-20 is a token standard for producing fungible assets on the Bitcoin network, comparable to Ethereum’s ERC-20. Domo, a pseudonymous developer, constructed it using the Ordinals protocol, resulting in a $3 billion market for decentralized finance (DeFi) on the Bitcoin blockchain.
The fraudulent program “unisatWallet” jeopardizes users’ bitcoin savings and emphasizes the need of utilizing reputable wallet solutions. UniSat cautions users to exercise caution and only download programs from trusted sources to safeguard their digital assets.
