Crypto users warned over dangerous iPhone app FomoPeek

Crypto users who have installed FomoPeek on their iPhone are being warned to take action immediately. According to security researchers, versions 1.1 and 1.2 of the app contain malicious code that gives attackers extensive access to an iPhone. Not only can private keys and seed phrases from crypto wallets be stolen, but potentially also passwords, chat history and files from other apps.

FomoPeek can break out of the secure iOS environment

According to security firm SlowMist, FomoPeek contains a framework that attempts to exploit vulnerabilities in iOS. Eight different attack methods are said to be available.

Normally an iPhone app runs inside a protected environment, the so-called sandbox. This prevents an app from simply accessing data belonging to other applications. According to the researchers, the malicious code in FomoPeek instead attempts to escape this sandbox and gain access at a much higher level.

When such an attack succeeds, the consequences can be severe. The attacker may be able to read and decrypt data from the iOS Keychain, which can contain sensitive login credentials.

For crypto users, the potential leak of private keys and seed phrases is particularly dangerous. Attackers could also gain access to files, stored data and chat history from other apps on the same device.

According to the information shared, the malicious software can also receive commands from external servers.

Removing the wallet is not enough

According to the reports, several cases of crypto theft have been linked to users who previously installed an affected version of FomoPeek. Exactly how many victims there are and how much crypto has been stolen has not yet been publicly established.

Binance Wallet advises anyone who has installed FomoPeek to delete the app immediately and update iOS to the latest available version.

However, simply deleting the app does not solve the main risk. If a seed phrase or private key has already been stolen, that data remains usable to gain access to a wallet.

Binance advises a completely new wallet

Potentially affected users are therefore advised to create a completely new wallet on a clean device. The remaining crypto should then be sent to addresses belonging to that new wallet.

It is important not to simply re-import the same seed phrase. Doing so restores the same private keys and leaves a potential attacker with continued access.

Users would also do well to check their old addresses for suspicious transactions.

The incident is particularly concerning because the alleged attack does not affect just one crypto wallet. If the described iOS exploit is actually carried out successfully, sensitive information from multiple apps on the device can become accessible. Users of FomoPeek 1.1 and 1.2 are therefore advised to treat their existing wallet data as potentially compromised.