iPhone Sideloading Could Increase Crypto Phishing Attacks, Experts Warn

cryptonews.com:

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.

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.

Apple will allow iPhone users in the EU to sideload apps starting in the first half of 2024 to comply with new regulations!

Sideloading will allow users to downloads apps from the internet and third-party app stores

Should Apple allow users to sideload apps outside of the EU?… pic.twitter.com/A2et1ppmjK

— Apple Hub (@theapplehub) November 13, 2023

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.

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