As Bitcoin’s value continues to surge higher and higher so are the scams seen attacking the industry for cashing the opportunity. 3 crypto scam apps, having the potential of severely damaging the entire industry, were pointed out by a security agency.
An independent security agency relating to the crypto industry called Intezer Labs had recently pointed out three major tricks of crypto-scammers. The agency had spent almost a year on the project to find out about malicious actors involved in crypto scamming. The agency published its research paper and pointed out that scammers mostly rely on apps. Intezer informed that these apps had been designed to give them Remote Access Trojan for injecting notorious malware called ElectroRAT.
ElectroRAT had manifestly been used to steal cryptocurrencies, in particular Bitcoin, which had been lying in any digital wallet. The agency further pointed out fake crypto trading platforms and poker app such as Jamm, eTrade/Kintum, and DaoPoker.
It was further pointed out by Intezer that these malicious actors had currently been in the middle of developing their software. This under-development software had been intended to integrate with different PC operating systems such as Windows or Mac etc. Their ultimate aim is to target innocent people from all over the world who are in possession of cryptocurrencies. In addition, their livelihood is dependent upon emptying others’ digital wallets, mentioned Intezer.
It was also earlier reported by investigating agencies/cybercrimes authorities that every year there is an increased number of cyber-victims. A large group of these victims is of those who had been lured into joining fake domains or asked to install applications that were virus-enabled. Similarly, many were fooled by fake accounts of known personalities which were established at different social media websites/networks.
The agency also revealed that ElectroRAT is something far superior which cannot be prevented easily. It explained that once the victim had been deceived into activatingElectroRAT then crypto-assets lying in the victim’s digital wallet are drained automatically.ElectroRAT is equipped with multi-functionality and on its own can acquire log-in information, execute commands and delete or upload files.
The report concluded that ElectroRAT should be avoided at all costs otherwise it could severely damage anyone financially.