A company specializing in security research has found that the new fake crypto apps appear on the Google Play store on a larger scale as Bitcoin price rise.

There is a number of fake applications, such as Trezor Mobile Wallet and Coin Wallet, have been discovered on Google Play store.

According to researchers, there is a vulnerability in the code and application interface of the two applications and have since been removed from the store “Google Play.”

The Trezor Mobile Wallet application has no direct harm to Trezor users. However, all email addresses and data collected later can be used for phishing campaigns targeting Trezor users.

When the “Trezor Mobile Wallet” application appears, it looks like a genuine app at first look- the name of the developer “Trezor Inc.” and the description of the application and images look real.  However, when you download the application, you can see the differences because the login screen is different and there is no company name inside the application.

On the other hand, the implementation of “Coin Wallet” was a fake wallet and hackers behind the application could steal all user money. The phishing method begins after the app loads, showing you the wallet address to send your digital currency, but in fact this address is a hacker’s address behind the app.

Although this method is a relatively new way of hack and phishing in the Crypto world, the scams themselves are not new.

Over the past few years, cybercrimes have been rising, especially in the rising trend of the market, so you should always be cautious in the crypto market.

 

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view