Blockchain Security Firms Warn of Phishing Risks with Apple's App Sideloading

According to Decrypt, Apple is reportedly planning to allow EU iPhone users to sideload apps, bypassing the official App Store, in compliance with the region's Digital Markets Act. However, blockchain security firms have warned that this practice could increase the risk of phishing attacks for crypto users. A recent report from blockchain security firm SlowMist highlighted the dangers of app sideloading, citing Chinese Android phone users who suffered significant losses from phishing attacks linked to a fake Skype app downloaded outside the official Google Play Store. SlowMist told Decrypt that if Apple permits sideloading of apps, crypto users could be targeted by phishing attacks, asset theft, account password theft, and other risks. David Schwed, COO of blockchain security firm Halborn, also expressed concerns about malicious developers releasing deceptive applications designed to exploit user trust and steal data, including credentials. Apple has previously warned of the risks of sideloaded apps in an October 2021 whitepaper, stating that more harmful apps would reach users because it would be easier for cybercriminals to target them. To protect against phishing attacks, blockchain security firms advise crypto users to be cautious with unknown links, verify all authorization and passwords, and scrutinize the source of sideloaded apps. They also recommend opting for applications from established and reputable app stores like Apple's App Store or Google Play Store, where apps undergo rigorous security reviews.