Fake EOS Wallet on GooglePlay Taken Down on EOS Rio Signal

EOS Rio reported the SimplEOS wallet, which has been subsequently removed from the app store.

A faked EOS wallet has been flagged and taken down by a developer group, EOS Rio. The app, called SimplEOS, faked a release by the developer group. This is not the first faked EOS wallet attempting to steal credentials.

https://twitter.com/eosriobrazil/status/1060579777432641537

While the wallet seems to have disappeared from the app store, the warning still applies for apps of a similar name. The official wallet app from EOS Rio is yet to materialize.

EOS Rio also shared the official link for the wallet download, and the link is also available through the project’s GitHub page.

The EOS ecosystem is unique for its potential to handle scams by reversing transactions. Account hijacking and coin loss handling are within the scope of the EOS Constitution. The EOS Core Arbitration Forum (ECAF), together with block producers, has previously frozen accounts based on doubts of potential fraud.

The news of the problematic wallet barely affected the EOS market price, which has remained relatively stable for months now. EOS, which rallied robustly during the times of the daily auction sale, stagnated around the $5.50 range. As of 11:30 UTC, EOS traded at $5.38, on slightly lower volumes of around $668 million in 24 hours.

EOS has been displaced in the cryptocurrency league tables by the recent rise of Stellar (XLM). The asset and the ecosystem are trying to expand, however, as DappRadar reveals. The dominating distributed apps of EOS include several online casinos and betting games, with turnovers seeing several million EOS in 24 hours.

From the current stagnant prices, there have been predictions for another rally, possibly going as high as $15.

https://twitter.com/ICoinex/status/1061813391139000320

However, EOS has been surrounded by skepticism, and the high level of transactions and gambling usage are not seen as impressive by the crypto community. EOS RAM prices, another measure of interest and speculation, have also stabilized around 0.08 EOS per kilobyte.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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