Fake Trezor Application
The latest inclusion in the fake crypto app club has been of Trezor, a hardware cryptocurrency wallet. The fake app was registered by the name “Trezor Mobile Wallet” under the developer “Trezor Inc” and was available on the app store from 1 May. Further investigation revealed that the software behind this fake app was also related to another money scamming false application, “Coin Wallet – Bitcoin, Ripple, Ethereum, Tether.”
What the phony application did was enable a portal for users to create their e-wallets, which could then be used to store their cryptocurrency. The wallet was programmed to transfer crypto coins directly to the scammer’s address.
A rep from the Trezor team asserted that the application didn’t pose any threat to Trezor users although there is a looming cause of concern as the email addresses registered on the fake application could be used for acts of phishing.
This has been a repeating cause of concern as the company last year also issued similar warnings after fraudsters faked their hardware wallets.
A Growing Problem
As per ESET, over 1000 downloads have been recorded of the fake applications. Researchers speculate that if Bitcoin continues with its growing trend, there could be a further rise in the number of malicious apps on the app stores; both iOS and Android. They also advised the users to only download applications listed on the company’s website. In another app-centric crypto crime news, as reported on 30 March, a recent Android Trojan, Gustuff, has been attacking crypto exchange platforms as well as banks. This specific malware dominates heavily on international markets with a potential target of over 100 banking applications.