Apple, the American multinational technology company, has issued new security updates for its mobile operating system after the iPhone maker discovered vulnerabilities that could compromise cryptocurrency wallets.
It has been reported that the security updates, which were released Tuesday, affect iOS 14.4 and iPadOS 14.4.
However, the vulnerabilities allowed hackers to gain remote access to a target system, exposing the user’s cryptocurrency wallet.
WARNING: Apple has discovered a security weakness that could compromise cryptocurrency wallets. iOS users should update their mobile devices as soon as possible! https://t.co/p8DsQmnMIX — Cointelegraph (@Cointelegraph) January 27, 2021
The report said that Pete Kim, the Head Engineer of Coinbase, warned iPhone users to update their operating system immediately.
He said:
“If you are using a mobile crypto wallet on an iOS device, be sure to update iOS as soon as possible! The update includes a fix for a remote arbitrary code execution vulnerability that may have been actively exploited.”
⚠️ If you are using a mobile crypto wallet on an iOS device, be sure to update iOS as soon as possible! The update includes a fix for a remote arbitrary code execution vulnerability that may have been actively exploited.https://t.co/qyK9eygST4 — Pete Kim ⟠ (@petejkim) January 26, 2021
Likewise, Coinbase’s mobile wallet is the 13th most downloaded finance app on the Apple Store.
According to the report, Apple’s security updates are available for iPhone 6s and later, iPad Air 2 and later, iPad Mini 4 and later, and the seventh-generation iPad Touch. The company said that the vulnerabilities “may have been actively exploited” by malicious actors.
Thus, mobile wallets are a popular way for crypto users to store and transfer their digital assets. They also make it easier to spend cryptocurrency on everyday items.
Source: Cointelegraph