From Hacks to Fake Apps, Bitcoin’s Other Headache to Cure
From hacks to apps, a report says more than 10 counterfeit Bitcoin-related apps found their way into Apple’s App Store with some of them being designed to steal Bitcoin worth thousands of dollars from users. Though all the counterfeit apps have since been removed from the App Store, one user claimed to have lost about $10,000 with a trace to the deposit address showing it has $20,000 listed on it, according to Breadwallet co-founder Aaron Voisine in an interview. Breadwallet case. Breadwallet was one of the first legitimate Bitcoin wallets to be identified as being counterfeited to....
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Fake bitcoin wallet apps have emerged in the Apple iTunes App Store, potentially putting bitcoin accounts at risk and reinforcing the need for people to make sure they are downloading apps from official wallet websites, according to Kyt Dotson, a senior editor at Silicon Angle. A representative of Breadwallet, a bitcoin app available in App Store and Google Play, has posted a notice on Reddit listing a number of fake bitcoin wallet apps in the iTunes App store, calling into question Apple’s vetting process. The fake apps have names similar to the official mobile wallet apps, but they can....
Thousands of users were scammed into buying fake Android cryptocurrency mining apps, according to a California-based security firm. These apps are advertised as a way of earning money via mining cryptocurrencies, but in actuality they don’t perform any function. Instead, they charge the user for supposed improvements and enhancements to improve their currency throughput. 93K Users Scammed Scammers tricked more than 93K users by selling them fake cryptocurrency apps through the Google Play Store. These numbers come from the latest report from Lookout, a California-based security firm.....
While bitcoin (BTC) prices are increasing, crypto-related scams appear on the scene to take advantage of the situation. In this case, a security firm spotted three malicious crypto apps targeting users to steal their funds. Three Bogus Crypto Trading and Poker Apps Are Infected With Dangerous Malware According to Intezer Labs, a year-long malware operation has been underway since January 2020, spreading faster with the help of a sophisticated marketing campaign. Per the research, the threat actors rely on three cryptocurrency-related apps to spread a Remote Access Tool (RAT) malware named....
A U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake crypto apps that have scammed hundreds of investors.”
U.S. Senator Questions Chief Executives of Apple and Google on Fake Crypto Apps
Senator Sherrod Brown (D-OH), chairman of the Senate Committee on Banking,....
According to an Apple Insider report published on August 9, a disturbing trend has emerged on Apple’s App Store as a series of malicious copycats of well-known Bitcoin wallet apps became available to download. Some of the fake wallets looked quite similar to the real thing but were specifically tweaked to steal bitcoins from unsuspecting users. As a result some $20,000 reportedly ended up in the pockets of scam artists before Apple was able to filter and remove the apps from its store. The relative “success” of the fake apps and the ease at which they were manufactured and distributed, for....