FomoPeek iOS app exploits vulnerability, steals $580,000 in cryptocurrency

Malicious iOS app FomoPeek, distributed through Apple’s App Store, used kernel‑level exploits to break out of the sandbox and steal cryptocurrency worth about $580,000, security firm SlowMist reported on Tuesday. The app masqueraded as a “FOMO”‑style trading tool, prompting users to tap a button that claimed to reveal hidden market opportunities. Once installed, the compromised versions accessed data from other apps, including wallet credentials, and transferred funds to addresses linked to the attackers.

The incident matters because iOS is widely regarded as the most secure mobile platform. Apple’s review process is supposed to block malicious code before it reaches users. Yet the FomoPeek variants slipped through, exploiting a zero‑day kernel flaw that allowed them to bypass the operating system’s isolation mechanisms. Crypto‑related scams have surged as digital assets become more mainstream, and attackers increasingly target mobile wallets where users store large sums. The breach highlights how quickly new threats can emerge when high‑value assets are involved.

SlowMist’s analysis showed the app leveraged a known iOS kernel vulnerability that was patched in iOS 17.2, but the malicious code was compiled for older versions still in use on many devices. The exploit granted the app system‑level privileges, letting it read keychains and intercept OTP messages. Victims reported unauthorized transfers after receiving a “verification code” that the app generated itself. Apple has since removed FomoPeek from the App Store and is investigating how the app passed its review. Security experts warned users to update to the latest iOS version and to avoid installing apps that request unnecessary permissions.

Going forward, Apple says it will strengthen its vetting tools and work with security researchers to identify similar threats sooner. Users are advised to delete the app, change wallet passwords, and monitor accounts for suspicious activity. Regulators may also scrutinise the App Store’s liability for facilitating crypto fraud. The episode underscores the need for continual vigilance as cybercriminals adapt to the growing popularity of mobile finance.