My application was working perfectly fine, then I started integrating SDK for push notification and stop the integration in between. I even deleted the SDK from my project a
i tried to re-select provisioning profile signing for both debug and release. this did fix the issue.
This generally happens after changing the Deployment Targets in XCode and is easily solved by "Product > Clean" before attempting a Build.
New potential answer for Swift: we isolated this error down to a single usage of the nil coalescing operator (??) in a category file. The operator is used elsewhere in our project without a problem, but in this specific file, removing it fixed the lipo error.