FBI Warns of Fake Crypto Apps — 244 Investors Defrauded, $42.7 Million Lost
The Federal Bureau of Investigation (FBI) has issued a warning about fake cryptocurrency apps defrauding investors. “The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million,” said the U.S. law enforcement agency. FBI’s Crypto App Warning The cyber division of the Federal Bureau of Investigation (FBI) issued a notice Monday warning investors and financial institutions about fraudulent cryptocurrency applications. The notice states: The FBI is warning financial institutions and investors about cyber....
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Fake crypto apps appear to be part of an ongoing game of whack-a-mole with app store operators. The Federal Bureau of Investigation (FBI) has issued a public warning about fraudulent cryptocurrency apps, which have swindled U.S. investors out of an estimated $42.7 million so far. According to an advisory published on July 18 by the securities and intelligence agency, cybercriminals have created apps using the same logos and identifying information as legitimate crypto companies to defraud investors. The FBI noted that 244 people had already fallen victim to these fake apps. One case saw....
Scammers are using fake crypto apps to steal funds from investors. Some malicious apps find their way into official app stores. Scammers have been taking advantage of blockchain’s decentralized and immutable nature to swindle crypto investors since the advent of the technology.And, according to the latest FBI fraud report, fraudsters are using fake crypto apps to steal money from unsuspecting crypto investors. It highlights that American investors have lost approximately $42.7 million to swindlers through fake apps.The schemes reportedly take advantage of heightened interest in....
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....
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....
Investors defrauded by the Russia-based cryptocurrency Ponzi scheme Finiko have sent the crypto pyramid an average exceeding 720,000 rubles, or more than $10,000 at current exchange rates. The assessment comes from a survey of victims conducted by a public non-profit organization. Fifth of Finiko Investors Parted With Over 1 Million Rubles Russia is still trying to grasp the magnitude of its largest financial scam since the notorious MMM pyramid in the 1990s. While the officially registered losses to Finiko have reached 1 billion rubles (close to $14 million), some estimates suggest the....