The App was designed to work like a stock market tracker but instead it stole data from the user.According to Android Tester, this app is a significant threat to the app store.When Apple was asked about this matter,it refused to comment.Instead it removed the app and Barred the developer.
According to underlying sources,this app was created by infamous Security Expert Charlie Miller.Two months ago,the software giant accepted the app into their app store.Later it was revealed by Charlie Miller himself that the App contained a Malware which could remotely download pictures and contacts from the user.He also included”Until now you could just download everything from the app store and not worry about it being malicious. Now you have no idea what an app might do.”
According the iTunes page,it shows that InstaStock  was downloaded 23414 times.The venerability according to him was the recent update to iOS which allowed non approved codes to be added.Just moments after the news about Charlie Miller spread,Apple barred him from the developer community for violating the TOS.
His recent tweet”First they give researchers access to developer programs, (although I paid for mine) then they kick them out.. for doing research. Me angry”.
This was not the first incident of Charlie Miller against Apple.In Late 2009 he discovered that iOS Text messaging system had a flaw which could be used by the attacker for gaining full control over the mobile