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pts20190524023 Society / Finance, Computers / Telecommunications
With fraudulent applications, cybercriminals want to take advantage of the current growth of Bitcoin
Jena (pts023 / 24.05.2019 / 10: 50) – Bitcoin cryptocurrency has reached its highest level since September 2018. Cybercriminals have also seen this rise and are stepping up their activities in this area. ESET researchers have discovered fake and malicious cryptocurrency applications in Google Play. An example is an application presented as a software counterpart of the famous hardware portfolio Trezor. By badyzing this application, the researchers discovered another fraudulent and even more dangerous cryptocurrency wallet application called "Coin Wallet", designed to help users lose their money. ESET has reported both apps to Google and they have already been deleted.
"The Bitcoin recovery is also fueling the activities of cybercriminals, particularly the" Coin Wallet "app, which claims to create portfolios for various cryptocurrencies," said Lukas Stefanko, a malware researcher at ESET. "However, the real purpose of the application is to transfer virtual money into criminals' digital wallets."
Users must be cheated on login information and crypto-currencies
The application "Trezor" and "Coin Wallet" are similar in programming code and interfaces. "Coin Wallet" is available on Google Play since February 2019. The application claims to generate portfolios for various crypto-currencies. If users fall for it, they just fill the pockets of criminals.
The application, which claims to be a mobile wallet for Trezor, was uploaded to Google Play on May 1, 2019. At the time of badysis by ESET researchers, the Fake app was even the second most popular result when searching for "Trezor" in the store, just behind the official and legitimate application. The false application was used for theft of identity documents. Once both applications were reported by ESET researchers, they were removed from Google Play.
Tips from ESET experts for more security in cryptocurrency:
– Users of banking applications and other financial applications related to cryptocurrency should only use applications related to the official website of the service.
– Sensitive data should only be entered into online forms if users are convinced of their security and legitimacy.
Whether it's a smartphone, a tablet or a PC, the corresponding device must always be updated and the security updates saved in a timely manner.
– A security solution also belongs to the basic equipment of smartphones and tablets. A security application blocks and removes threats and should provide useful features such as theft protection or application lockdown.
All results from ESET researchers are available on WeLiveSecurity: https://www.welivesecurity.com/2019/05/23/fake-cryptocurrency-apps-google-play-bitcoin
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