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FBI Warns of Fake Cryptocurrency Apps Stealing Millions from Investors – The Hacker News

Summary

The U.S. Federal Bureau of Investigation (FBI) has warned of cyber criminals building rogue cryptocurrency-themed apps to defraud investors in the virtual assets space.

“The FBI has observed cyber criminals contacting U.S. investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which the cyber criminals have used with increasing success over time to defraud the investors of their cryptocurren…….

The U.S. Federal Bureau of Investigation (FBI) has warned of cyber criminals constructing rogue cryptocurrency-themed apps to defraud buyers Inside the digital belongings space.

“The FBI has noticed cyber criminals contacting U.S. buyers, fraudulently claiming To current respectable cryptocurrency funding providers, and convincing buyers to acquire fraudulent mobile apps, which the cyber criminals have used with growing success over time to defraud the buyers of their cryptocurrency,” the agency said [PDF].

The illicit scheme, which goals To revenue from elevated curiosity Inside the crypto sector, is believed to have netted 244 victims, with losses estimated at $42.7 million between October 4, 2021, And ought to 13, 2022.

Based mostly on the regulation enforcement authority, menace actors are misusing the names, logos, and completely different figuring out information of respectable companies to create pretend web websites in an Try and lure potential buyers.

In three circumstances highlighted by the FBI, the scammers masqueraded as a U.S. monetary agency And agencys named YiBit and Supayos (aka Supay) to dupe 34 victims of about $10 million by tricking the people into acquireing bogus crypto pockets apps designed to plunder the digital funds deposited into the accounts.

“Financial institutions ought to warn their clients about this exercise and informationrm clients as As to if or not They current cryptocurrency providers,” the FBI cautioned, whereas urging buyers to be Wanting for unsolicited requests to acquire funding apps from untrusted sources.

Source: https://thehackernews.com/2022/07/fbi-warns-of-fake-cryptocurrency-apps.html