Cryptocurrency scams on Android: do you know what to watch out for?

Minimalist · Feb 28, 2018

The growing prices and popularity of cryptocurrencies don’t just attract masses of potential users, but also inspire cyber-crooks to find new and creative ways to get their sticky fingers on all those virtual coins. Of course, cryptocurrency scams are not exclusive to PCs and have already emerged on the Android platform, using a wide array of disguises.
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https://www.welivesecurity.com/2018/02/28/cryptocurrency-scams-android/

guest · Oct 12, 2018

Fortinet Discovers New Android Apps that Mine the Unminable
October 11, 2018
https://www.fortinet.com/blog/threa...new-android-apps-that-mine-the-unminable.html

Cryptocurrencies don't all work the same way. Some are minable, some aren't. For example, Ripple (XRP), Cardano (ADA) and Tether (USDT) aren't minable.
Despite this fact, several applications pose as miners for those currencies on Android ;) Do not be fooled, they are all malicious, if not scams.

It's not the first time that researchers have spotted such miners on Android marketplaces: Lukas Stefanko already noticed some in February. However, the samples below are new and are believed to have been hiding under the radar since May 2018. [...]
What's Their Business?
As far as we know, the only business around those applications is for their author to display ads and collect revenue: [...]
So, basically, the idea is to fool the end-user in downloading an adware.
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guest · Nov 13, 2018

Fake cryptocurrency wallets found on Play Store
November 13, 2018
https://lukasstefanko.com/2018/11/fake-cryptocurrency-wallets-found-on-play-store.html

Recently, I found four fake applications on Google Play Store that tried to trick users either in to luring their credentials or impersonating cryptocurrency wallets.

The first one is phishing category where malicious app after launch requests from the user his private key and wallet password. That is the case for fake MetaMask app.
The second category are fake wallets. In this category I found three more apps created by the same attacker – NEO Wallet, Tether Wallet. [...]
Conclusion
What concerns me the most is that these fake wallets were created using Drag-n-Drop app builder service without any coding knowledge required.
[...] literally anyone can “develop” simple but effective malicious app either to steal credentials or impersonate cryptocurrency wallet.
References
More information you can find in my cryptocurrency research – Crypto currency scams on Android.
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Cryptocurrency scams on Android (PDF): https://www.welivesecurity.com/wp-content/uploads/2018/02/Cryptocurrency_Scams_on_Android.pdf

guest · May 23, 2019

Fake cryptocurrency apps crop up on Google Play as bitcoin price rises
May 23, 2019
https://www.welivesecurity.com/2019/05/23/fake-cryptocurrency-apps-google-play-bitcoin/

May 2019 has seen bitcoin growing, with its price climbing to its highest points since September 2018. Not surprisingly, cybercrooks were quick to notice this development and started upping their efforts in targeting cryptocurrency users with various scams and malicious apps.

One such app was recently spotted on Google Play by Reddit users, impersonating the popular hardware cryptocurrency wallet Trezor and using the name “Trezor Mobile Wallet”.
Trezor confirmed the fake app did not pose a direct threat to their users.

However, they did express concern that the email addresses collected via fake apps such as this one could be later misused for phishing campaigns targeted against Trezor users.
What does it do?
The app claims it lets its users create wallets for various cryptocurrencies. However, its actual purpose is to trick users into transferring cryptocurrency into the attackers’ wallets
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If bitcoin continues its growth trend, we can expect more cryptocurrency scam apps to emerge in the official Android app store and elsewhere. When installing apps, it is important to stick to some basic security principles – even more so when money is at stake.
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Cryptocurrency scams on Android: do you know what to watch out for?

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