Hackers Steal Money Via 167 Fake Exchanges, Crypto Apps On Android, iOS
Cyber ââsecurity researchers have identified a pool of 167 counterfeit Android and iOS apps used by hackers to steal money from people who believe they’ve installed a financial, banking, or cryptocurrency trading app from an organization. trust.
Researchers at cybersecurity firm Sophos investigated the bogus apps and found that many were very similar. Attackers targeted users through dating sites and tricked victims into installing money-stealing apps disguised as popular brands.
Some applications included a built-in customer support chat option. When the researchers tried to communicate with support teams using the chat, the responses they received used almost identical language.
Researchers also discovered a single server loaded with 167 bogus trading and cryptocurrency apps.
Taken together, this suggests that the scams could all be exploited by the same group.
âThe bogus apps we discovered masquerade as popular and trusted financial apps around the world, while the dating site begins with a friendly exchange of messages to build trust before the target is asked to install a bogus application. Such tactics make the fraud seem very credible, âexplained Jagadeesh Chandraiah, senior threat researcher at Sophos.
In one of the schemes investigated, crooks befriended users through a dating app, creating a profile and exchanging messages with individual targets before attempting to trick them into installing and adding more. money and cryptocurrency to a fake app.
If targets subsequently attempted to withdraw funds or close the account, the attackers would simply block their access.
In other cases, targets have been captured through websites designed to resemble those of a trusted brand, such as a bank.
Operators even set up a fake “iOS App Store” download page containing fake customer reviews in order to convince targets that they were installing an application from the real App Store.
âTo avoid falling prey to these malicious apps, users should only install apps from trusted sources such as Google Play and the Apple App Store,â Sophos advised.
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