Some Android and iOS apps threaten to steal all your cryptocurrencies. According to ESET researchers, many fake apps are currently posing as legitimate digital wallets in order to steal your bitcoins, ethers or other crypto-assets.
ESET computer security researchers have discovered the presence of malicious applications on Android and iOS operating systems. These apps impersonate digital wallets for storing cryptocurrencies, such as Coinbase, imToken, MetaMask, Trust Wallet, Bitpie, TokenPocket or OneKey.
To convince Internet users to install these bogus apps, hackers have developed websites that mimic the interface of legitimate services and recognized by investors in the sector. Unsurprisingly, the criminals behind the attack slipped malware (a Trojan horse in this case) into the code of the dummy apps.
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According to ESET researchers, applications are widely based on genuine app code so as not to arouse the suspicion of the targets. Only the insertion of the virus distinguishes the infected app from the original version. “This is a sophisticated attack vector since the malware author performed a thorough analysis of legitimate applications”explains ESET.
To effectively spread corrupted iOS and Android apps, hackers have also served from Facebook or Telegram groups. “On Telegram, we found dozens of these groups promoting malicious copies of cryptocurrency wallets”assures the report.
The malware is designed to steal the encryption key from the wallet of users who fall into the trap. A cryptocurrency portfolio is fully secured by a recovery phrase consisting of 12 or 24 words. It is impossible to recover currencies, such as Bitcoin or Ether, without this passphrase. With the encryption key, the hacker can seize the funds held by the victims.
At the same time, the researchers discovered the presence of 13 malicious apps who pretend to be the Jaxx Liberty wallet on the Play Store. These fake apps were also designed to steal cryptocurrencies stored on Android smartphones. You are advised to be careful when installing a new digital wallet on your phone. Before adding funds, make sure it’s the right app by checking the developer’s name, number of downloads, and reviews on the Play Store.
