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A fake app claiming to be Curve Finance has recently climbed into the top 100 finance apps on the Apple app store, raising concerns among users and DeFi experts. Despite clear indications that this app is a scam, it’s gaining traction in several regions, including the U.S., Southeast Asia, and Europe.
The app, named “Curve defi v3” and created by “Tao Duong Van,” employs the Curve Finance logo and mimics the functions of the real DeFi platform. Yet, its poorly written description— “Arrange the blocks to make a perfect row and clear it!”—has not deterred downloads, leaving users further vulnerable.
Though flagged by numerous users as a scam, the app has garnered one-star reviews, with frustrated users labeling it as a “hacker” tool. To appear legitimate, the fake Curve app claims to support token swaps, liquidity staking, and other DeFi features, misleading users with promises of a secure financial experience. One misleading image on the app even touts a user base of “30 million global users,” attempting to lure unsuspecting users.
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Social Media Warnings Gain Traction
Fintech engineer Babu, known for spotting app store scams, took to X to alert the public about the fake app, warning users to “stay vigilant and report suspicious apps!” Babu tagged the official Curve Finance account, urging users to avoid this fake app and protect their funds. Curve Finance’s team has also warned users to avoid any apps in the Apple store, as their platform does not offer an official app.
This scam’s spread points to the ongoing challenge of spotting fraudulent DeFi apps. With the app store’s broad reach, scammers have leveraged these platforms to mimic reputable DeFi protocols, hoping to trick users into giving up their funds or personal information.
Curve Impersonations on App Stores
This is not the first time that Curve Finance has been impersonated on Apple’s app store. Back in February, another unauthorized app bearing the Curve name and logo was discovered, claiming to offer borrower management services. Created by “MK Technology” and boasting a 4.6-star rating, that app also aimed to exploit unsuspecting users in search of legitimate DeFi tools.
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As fake DeFi apps gain prominence, users are advised to report suspicious applications and double-check the legitimacy of DeFi services. The Curve Finance team is actively calling on app stores to enhance their security checks and prevent these threats from reaching the public.
