With the popularity of the cryptocurrency industry, there has been a huge increase in the number of rogue apps in the Google Play Store and App Store. Fake wallet apps are used to steal people’s information and get their hands on their money.
As you know, the cryptocurrency world has faced more demand in recent weeks than ever before. In a short time, giant names and companies have made exciting statements about cryptocurrency, many cryptocurrencies have managed to see the highest value they have ever seen. Bitcoin, the most valuable currency yesterday, broke a new record by exceeding the level of $60,000.
Of course, as with everything else, the cryptocurrency world is filled with malicious individuals who want to take advantage of this demand along with demand. Counterfeiting, which started ringing the bells in the cryptocurrency world, has also manifested itself in Google and Apple’s app stores.
Cryptocurrency fraud has taken its place in app stores:
The Google Play Store and App Store have been flooded with fake cryptocurrency wallet apps as cryptocurrencies have become popular. Every single coin that users who tried to use these wallets threw into the wallet was seized by malicious individuals. Moreover, removing apps from the store is not enough to stop them. Because these applications can somehow re-stream the application by bypassing the security protocols.
These apps are used for a large number of phishing attacks. Apps use the names of popular cryptocurrency wallets to instill confidence in users. The fact that such events are happening in the cryptocurrency world is a big problem for the industry as well as the name of their companies.
Once scammed, users naturally start to move away from the cryptocurrency world. Which means the more people are conned, the more people will turn their backs on this world. Eventually, investment in cryptocurrencies begins to fall to fewer levels than would normally be.