Apple is facing a new class action lawsuit after a user claimed that the company allowed a fake cryptocurrency app called ‘Swiftcrypt’ to be listed in the App Store, resulting in a major financial scam. The lawsuit was filed in the US District Court for the Northern District of California by Danyell Shin, who says she lost over $80,000 after using the app, according to the filing (via CoinGeek). Also, the lawsuit proposes to represent all users who were affected by this type of fraud.
According to the complaint, Shin founded Swiftcrypt in 2024 through an online investment group. Believing the app was safe because it was available in Apple’s App Store, she downloaded it and began using it to invest in cryptocurrency. Over time, she deposited tens of thousands of dollars. However, the app eventually stopped working, and her money disappeared. She later discovered it was part of a scam known as a ‘pig-butchering’ scheme. It is a type of fraud in which victims are convinced to keep investing before being suddenly cut off from their funds.
In the lawsuit, the plaintiff argues that Apple is partly to blame because it promotes the App Store as a ‘safe and trusted place’ for users to download apps. The iPhone maker regularly states that it reviews every app and uses strict security measures to prevent fraud. However, Shin claims that these promises were misleading and gave users a false sense of security.
Importantly, the complaint also points to Apple’s own rules for cryptocurrency apps, which state that such apps must be operated by properly licensed and regulated companies. According to the lawsuit, Swiftcrypt did not meet those standards and should never have been approved by Apple’s review team. Additionally, Shin’s legal team also claims that the Cupertino giant not only failed to protect users but also profited from the scam. They argue that Apple made money from in-app transactions and that its reputation for app safety helps it sell more devices.
As part of the case, the plaintiffs are seeking financial compensation for the money lost and are asking Apple to change its advertising to more accurately reflect the risks of using third-party apps on the App Store. Notably, this lawsuit against the tech giant comes at a time when the US Department of Justice recently announced the seizure of a record $225 million in cryptocurrency tied to global pig-butchering scams.
This is not the first time the company has faced scrutiny over its handling of cryptocurrency and peer-to-peer payment apps. In November 2023, a proposed class action was filed in the Northern District of California by Venmo, Cash App, and other US users. They alleged that Apple entered into anti‑competitive agreements to prevent these platforms from integrating decentralized crypto features. Although the case was dismissed in March 2024, it remains active as the court allowed plaintiffs to refile.
