An unofficial app for MyEtherWallet.com, one of the most popular services for storing  cryptocurrencies like bitcoin, rose to the top of Apple's iOS App Store over the weekend.

The digital wallet app is not associated with the company, sparking concern that it's misleading customers or trying to scam them. MyEtherWallet.com tweeted on Sunday that the week-old app does not belong to the company, and that it filed a report with Apple. 

The app, which costs $4.99, rose to the third spot in the App Store as bitcoin trading has become especially frenzied. Just last week, the cryptocurrency soared to a record $17,000 before plummeting to around $14,000. It received another boost on Monday as futures contracts began trading. 

The app is marketed as a digital wallet that would allow users to store cryptocurrencies independently of an exchange, meaning users can access their money if things go wrong at the exchange. A digital wallet is composed of a public address where money can be sent and a private key known only by the owner.

The MyEtherWallet app's developer is listed as Nam Le, who has no relation to the service, according to the Verge. His other apps include a panda fighting and fishing game.

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Published on: Dec 11, 2017