FBI Warns of Fake Cryptocurrency Apps Stealing Millions from Investors
Jul 19, 2022
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 cryptocurrency," the agency said [PDF]. The illicit scheme, which aims to take advantage of increased interest in the crypto sector, is believed to have netted 244 victims, with losses estimated at $42.7 million between October 4, 2021, and May 13, 2022. According to the law enforcement authority, threat actors are misusing the names, logos, and other identifying information of legitimate businesses to create fake websites in an attempt to lure potential investors. In three instances highlighted by ...
