Beware New Crypto Scam Targeting iPhone Users
The scammers are at it again. What’s their game this time? It's got to do with Crypto.
Crypto currencies have been making the rounds for a while now, with currencies like Bitcoin, Ethereum and Litecoin climbing up the ranks and even outdoing some of the more traditional forms of currency like the Dollar or the Rupee.
In fact, nowadays there are a number of different crypto currencies you can choose from, like Cardano, Stellar and even Doge coin (which started out a meme but has become a serious form of crypto currency now).
The scam is called CryptoRom and was first brought to public attention by Cyber security company Sophos. Scammers tempt apple users into downloading phony crypto trading apps from the app store. But what makes the scam all the more devious is that the scammers approach potential victims via dating app services like Tinder, Facebook dating and Bumble.
The scammers contact potential victims on the dating apps and then move the conversation to messaging apps. After that they build trust with the victim and ask them to install a fake trading app.
A spokesperson from Sophos said that these fake apps have, "legitimate-looking domains and customer support. They move the conversation to investment and ask them to invest a small amount, and even let them withdraw that money with profit as bait."
"After this, they will be told to buy various financial products or asked to invest in special ‘profitable’ trading events. The new friend even lends some money into the fake app, to make the victim believe they’re real and caring. When the victim wants their money back or gets suspicious, they get locked out of the account.”
But it's not just that. These fake apps allow the scammers to take control of a user's iPhone and take their personal data.
But why are the scammers targeting iPhone users? According to Sophos, this is because the scammers assume iPhone owners are “likely to be wealthy.”
In Sophos' initial research, they discovered, "that the crooks behind these applications were targeting iOS users using Apple’s ad hoc distribution method, through distribution operations known as ‘Super Signature services.’"
"As we expanded our search based on user-provided data and additional threat hunting, we also witnessed malicious apps tied to these scams on iOS leveraging configuration profiles that abuse Apple’s Enterprise Signature distribution scheme to target victims.”
Research suggests that the scammers are making millions through this operation. One Bitcoin address shared by a victim shows that it has sent over 1.4 million dollars in tokens. And that is just from one Bitcoin address. Sophos suspects that this is just, "the tip of the iceberg. There could be several, with millions being lost.”
Let's take this as a warning. If you have invested in bitcoin or other crypto, then stay cautious about who you share your information and money with. Stick to trading apps you are familiar with and avoid engaging in crypto trading via dating apps.
The scammers are at it again. What’s their game this time? It's got to do with Crypto.
Crypto currencies have been making the rounds for a while now, with currencies like Bitcoin, Ethereum and Litecoin climbing up the ranks and even outdoing some of the more traditional forms of currency like the...
The scammers are at it again. What’s their game this time? It's got to do with Crypto.
Crypto currencies have been making the rounds for a while now, with currencies like Bitcoin, Ethereum and Litecoin climbing up the ranks and even outdoing some of the more traditional forms of currency like the Dollar or the Rupee.
In fact, nowadays there are a number of different crypto currencies you can choose from, like Cardano, Stellar and even Doge coin (which started out a meme but has become a serious form of crypto currency now).
The scam is called CryptoRom and was first brought to public attention by Cyber security company Sophos. Scammers tempt apple users into downloading phony crypto trading apps from the app store. But what makes the scam all the more devious is that the scammers approach potential victims via dating app services like Tinder, Facebook dating and Bumble.
The scammers contact potential victims on the dating apps and then move the conversation to messaging apps. After that they build trust with the victim and ask them to install a fake trading app.
A spokesperson from Sophos said that these fake apps have, "legitimate-looking domains and customer support. They move the conversation to investment and ask them to invest a small amount, and even let them withdraw that money with profit as bait."
"After this, they will be told to buy various financial products or asked to invest in special ‘profitable’ trading events. The new friend even lends some money into the fake app, to make the victim believe they’re real and caring. When the victim wants their money back or gets suspicious, they get locked out of the account.”
But it's not just that. These fake apps allow the scammers to take control of a user's iPhone and take their personal data.
But why are the scammers targeting iPhone users? According to Sophos, this is because the scammers assume iPhone owners are “likely to be wealthy.”
In Sophos' initial research, they discovered, "that the crooks behind these applications were targeting iOS users using Apple’s ad hoc distribution method, through distribution operations known as ‘Super Signature services.’"
"As we expanded our search based on user-provided data and additional threat hunting, we also witnessed malicious apps tied to these scams on iOS leveraging configuration profiles that abuse Apple’s Enterprise Signature distribution scheme to target victims.”
Research suggests that the scammers are making millions through this operation. One Bitcoin address shared by a victim shows that it has sent over 1.4 million dollars in tokens. And that is just from one Bitcoin address. Sophos suspects that this is just, "the tip of the iceberg. There could be several, with millions being lost.”
Let's take this as a warning. If you have invested in bitcoin or other crypto, then stay cautious about who you share your information and money with. Stick to trading apps you are familiar with and avoid engaging in crypto trading via dating apps.
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