App crashes when opening a project

iPhone 5, 16G iOS 7.1.2
I downloaded the app, registered a new user, everything went fine. But shortly after creating a new project, the app crashes. When I reopen it, it logs me in and I see the empty created project, but when I try to open it, it crashes again. Note: I can see the projects’ screen for a split second, with the female screw icon in the top right corner.

See Blynk constantly crashing

Briefly - it is known issue, it is fixed and will be available during next update.