A popular smartphone app used to conduct foreign exchange transactions was quietly removed from Apple’s App Store
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A popular smartphone app used to conduct foreign exchange transactions known as MetaTrader , was quietly removed from Apple’s App Store last Friday. As of this writing, the app remains available on the Google Play store. The app, which is made by a Cypriot-based company called MetaQuotes, has been used to perpetrate a new type of cryptocurrency scam, known as pig butchering, where a scammer builds a longer term relationship with their victim before convincing them to invest money over time. A key element of the scam is the use of bogus cryptocurrency apps and websites, which purport to show the victim that they’re making money off their investment, when in fact the scammer has taken everything.
request for comment by press time. The company had not previously responded at all to multiple emails sent to company email addresses. No phone numbers are listed on itsNeither Apple nor Google responded to requests for comment. Existing installs of MetaTrader on iOS devices continue to function. However, there are some reports on Twitter of users claiming to sell iPhones with the app pre-installed for $15,000 in one case, or a “starting price” of 5,000 British pounds, or “previously reported, MetaTrader, which offers licenses for its software, does enable legitimate trade by actual brokerages. It is an agnostic trading platform, one that is used by mainstream foreign exchange traders like Oanda.
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