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Home Cryptocurrency News

FBI Exposes Scammers Using Fake Apps to Rob Crypto Funds

FBI cautions against counterfeit beta-testing apps posing as crypto platforms, enabling theft and data breaches.

Sandeep B by Sandeep B
August 16, 2023
in Cryptocurrency News
57 1
FBI Exposes Scammers Using Fake Apps to Rob Crypto Funds

FBI Exposes Scammers Using Fake Apps to Rob Crypto Funds

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Key Points:

  • Fake Apps Scam: Criminals employ deceptive beta-testing apps to steal cryptocurrency and personal data.
  • Manipulation via Dating Apps: Cybercriminals persuade victims through dating and networking apps.
  • Malicious Codes and Thefts: Victims unknowingly send funds, enabling data theft or device control.

Counterfeit beta-testing applications have been identified as tools employed by criminals to pilfer cryptocurrency and personal data, as reported by the FBI.

The U.S. Federal Bureau of Investigation (FBI) has raised a cautionary flag regarding the deployment of deceptive beta-testing apps masquerading as authentic cryptocurrency investment platforms, aimed at siphoning funds from unsuspecting individuals. This advisory, dated August 15, elucidates that cybercriminals initiated contact with their targets via dating and networking apps. Through manipulative means, these malicious actors induced users to install harmful beta-testing applications, cleverly disguising them as legitimate tools such as cryptocurrency exchange platforms, thereby facilitating the illicit transfer of funds.

According to the FBI, these victims typically entered their genuine account credentials into the fraudulent application, unknowingly transferring funds they believed would be invested in cryptocurrency to the perpetrators.

The FBI’s disclosure further outlines that the malevolent codes embedded within these apps grant criminals the capability to abscond with personal data, infiltrate the victim’s financial accounts, or even wrest complete control over the compromised device.

The bureau underscores that these malicious codes can be integrated into the apps due to the absence of a review process for beta testing by mobile operating systems.

This warning surfaces in the midst of an escalating number of grievances from cryptocurrency users who claim to have lost their assets subsequent to downloading malware disguised as a play-to-earn game.

CertiK, a blockchain analytical firm, has recommended that cryptocurrency users exercise caution by verifying app publishers, perusing user reviews, and remaining vigilant for suspicious permissions or indications of malware.

Deceptive Job Listings

Concurrently, the FBI’s caution comes in the wake of ZachXBT’s discovery of a fraudulent job posting by Eco Land on the cryptocurrency job board, cryptojob.com.

An individual named Pau Bonnet recounted the loss of all cryptocurrency holdings stored in their hot wallet after responding to a job opportunity from Eco Land. Another user, Leandro Henflen, shared an experience wherein their antivirus software thwarted an attempt by Ecotechland to introduce malicious software to their computer after being offered a game through the job posting.

Earlier in the year, NFT_Dreww flagged several intricate instances of social engineering job scams on the Cryptojobs platform.

Related

Tags: CryptocurrencyFake AppsFBI
Sandeep B

Sandeep B

Sandeep is an Analyst, with over three years of experience in the crypto industry. With a deep understanding of the ever-evolving crypto market and a passion for sharing his knowledge with others. As an analyst, he has spent countless hours analyzing crypto market trends and studying the latest developments in the industry. Sandeep is also a skilled writer and digital marketer.

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