The Federal Bureau of Investigation (FBI) warns US citizens to be very careful when downloading investment and cryptocurrency apps as some of them are fake and designed only to steal victims' money.
“The FBI has observed cybercriminals contacting U.S. investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which cybercriminals have used with success every time. major to defraud investors of their cryptocurrency,” the Bureau said. (opens in a new tab).
The organization says criminals have so far swindled 244 victims out of €42,7 million.
Impersonate the US government
While there are likely more, the FBI has pinpointed two unique apps: Yibit and Supayos as some of the main culprits.
Active since October and November 2021, respectively, the app operators have managed to convince gullible retail investors to put their money into these apps, only to withdraw them themselves. Also, since late 2021, some of the attackers have been posing as (opens in a new tab) US financial institutions for the same purpose.
Although the world of cryptocurrencies is in a bear market (Bitcoin has lost around two-thirds of its value since November 2021), cybercriminals are more active than ever. Some of them use advanced techniques, such as fake videos, to trick people into believing that high-profile figures are endorsing their projects.
Others create fake accounts of attractive women on social media, ask for "help," or invite people to co-invest in projects that promise a high return on their investment.
Cryptominers, malware that mines cryptocurrency, are more popular than ever with cybercriminals, and tokens remain the number one payment method in ransomware attacks.
The FBI urges everyone to be very careful when downloading apps, to ensure they are only downloaded from legitimate sources (for example, Google and Apple mobile app repositories) and to enable two-factor authentication on all accounts.
Via: BleepingComputer (Opens in a new tab)