New York, Wednesday, October 02, 2024- A malicious crypto wallet app available on Google Play has reportedly stolen over $70,000 in digital assets from users after being downloaded 10,000 times, reports said late last week.
The fake wallet, disguised as a legitimate app, tricked users into entering sensitive information, allowing the hackers behind it to access and drain their cryptocurrency holdings.
This scam comes amid growing concerns about the rise of fraudulent apps on mobile platforms. Despite Google Play’s efforts to screen applications, some malicious actors manage to bypass security checks. Victims have reported losses of various cryptocurrencies, including Bitcoin and Ethereum.
Authorities urge crypto users to exercise caution and avoid downloading wallet apps from unknown developers or unofficial sources. The U.S. Department of Justice (DOJ) and cybersecurity experts are investigating the incident and working to trace the stolen funds.
Google has since removed the app, but the damage has already been done for many victims.
