iPhone Sideloading Could Increase Crypto Phishing Attacks, Experts Warn

Apple
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Trent Alan
Author Categories
About Author

Trent has a background and education in journalism and communications, with two decades of experience editing and writing on a diverse array of topics. In recent years, however, he has shifted his...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
iPhone sideloading
Experts predict a rise in crypto phishing scams if Apple enables iPhone sideloading in the EU. Image by weerapat1003, Adobe Stock.

According to a recent report by Computer World, Apple is planning to allow iPhone users in the EU to install apps from outside the official App Store to comply with the region’s new Digital Markets Act. This potential change has raised concerns among cybersecurity experts about an increase in phishing attacks targeting crypto users.

Security Firms Sound Alarm on Phishing Attack Risks

While Apple has not officially confirmed the policy change, multiple reports have indicated since 2022 that the company is preparing for it. Cybersecurity firms warn this could expose iPhone users to greater risks, however.

In a recent report, blockchain security firm SlowMist explained that Android users in China have already suffered major financial losses from phishing attacks linked to fake apps installed outside the Google Play Store. They caution that iPhone sideloading could lead to similar “phishing attacks, asset theft, account password theft, and other risks” targeting crypto investors.

Experts Advise Caution With Sideloaded Apps

David Schwed, COO of blockchain security company Halborn, said in an interview that sideloaded apps may contain malicious code disguised as legitimate software. He explained that the iOS protections like sandboxing “might not fully mitigate the risks posed by skillfully crafted, deceptive applications designed to exploit user trust.”

In an October 2021 whitepaper, even Apple acknowledged that sideloaded apps make it easier for cybercriminals to distribute malware more widely. The company argued that attackers could trick users into sideloading by making apps appear to come from the App Store.

To protect themselves from phishing attempts, experts advise crypto users to avoid unknown links, watch for phishing URLs, and double-check before entering passwords or authorizing transactions. Opting for apps from official sources like Apple’s App Store and Google Play Store reduces the chance of downloading harmful software.

While iPhone sideloading may become mandatory in the EU, whether Apple will expand the policy globally is unclear. For now, crypto investors would be wise to exercise caution if given the option to install apps outside the App Store. The convenience may come with increased phishing risks.

More Articles

Altcoin News
Brazil’s B3 Stock Exchange to Launch Bitcoin Options and Futures for ETH and SOL
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-10 12:05:00
Bitcoin News
University of Austin Launches $5M Bitcoin Investment Fund for Endowment
Hassan Shittu
Hassan Shittu
2025-02-10 11:06:46
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors