Tech Giant, Apple, Faces Class Action Complaint from XRP Holders

Bitcoin rally continues but all eyes on XRP7
Bitcoin rally continues but all eyes on XRP7

Tech Giant, Apple, Faces Class Action Complaint from XRP Holders – In a filing sent to the federal court in Maryland, plaintiffs argue that Apple participated or allowed “hacking and breach of financial account information and actual theft of personal financial assets.” According to the filing, Apple did this by “authorizing a malicious application in the App store”, in the name of Toast Plus.

On one front, there is a feud between SEC and Ripple. On the other hand, XRP holders are also taking legal actions. However, this time, against Apple Inc. and not regulators or authorities.

In detail, Plaintiff Hadonna Diep claims that Apple allowed “phishing” from an application disguised as a crypto wallet, Toast Plus. Diep and XRP holders might have thought that it was a version of Toast Wallet because it used the same names and logo.

However, Toast Wallet already closed down last year, 2020.

Here, Diep argues that Apple is liable for this. Diep said Apple failed to examine the application that was distributed to its online store. More so, Diep is not alone in this circumstance. Seemingly, this is a recurring problem. Many users listed similar complaints as well.

Furthermore, the filing says,

[Apple Store] is entitled to statutory damages of the greater of $10,000 or $100 per day for each day of violation, actual and punitive damages, reasonable attorneys’ fees, and Defendant’s profits obtained from the above-described violations.

At the time of writing, Apple still has not released an official statement on this matter.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Cynthia Charles 1207 Articles
She is a prolific writer and has special interest on writing about business and opportunities. She can be contacted via [email protected]

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