Steve pours beer onto his iPhone to test the new iOS7 waterproofing properties.....

According to Business Insider, a fake Apple advertisement claims that the new operating system, iOS7, has technology that makes the iPhone waterproof. 

Several people fell for it, and in the process, damaged their iPhones.

The fake ad claims that

in an emergency, a smart-switch will shut off the phone's power supply

therefore protecting it from damage.

Some of the Twitter messages sent by victims of the fake ad were quite entertaining, including

... iOS7 is not waterproof!!! now my phones at the bottom of the river

and others that use much more colorful language.

When you look at the ad, it looks legitimate:  the logo and jargon are all correct.