Beware of these crypto scam apps listed on the Play Store & App Store

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According to a new report by Bleeping Computer, the "pig butchering" scam is on the rise. You need to pay attention to crypto scam apps that managed to find their way to both the Play Store and App Store.

CONSTELLATION BRANDS, INC. Crypto apps from app stores utilize "pig butchering" technique to scam people

Now, the "pig butchering" scam is probably something not many of you are familiar with. It is a scam that involves phony websites, malicious advertising, and more.

According to Sophos, these attacks are designed to trick male Facebook or Tinder users into installing scam apps. They do that by using fake female profiles with stolen images. Needless to say, such fake profiles are meant to present themselves in the best way possible. They usually present investment opportunities to people, which are scams, of course.

Once users install such apps, which are usually cryptocurrency apps, users get scammed further. Fake profiles lead users to deposit crypto by using a legitimate cryptocurrency app, such as Binance.

Sophos highlighted three such apps

Sophos highlighted three apps that operate in such a fashion. The 'Ace Pro' and 'MBM_BitScan' app from the App Store, and the 'BitScan' from the Play Store. They usually lead users to withdraw a small amount from their account first, but when users try to withdraw larger amounts… well, they're unable to.

These apps are usually perfectly legit when they get registered on app stores. Once they're approved, however, their domain name changes and they connect to malicious servers.

Now, this is quite an elaborate scheme, and if you do use common sense, you'll be able to avoid it. Don't get tricked by fake profiles to get involved into phony investments, that's just not the way it goes.

You should be careful when installing unknown apps in general, let alone when you take advice from complete strangers. There are a lot of scams out there, and this one is not particularly easy to fall victim to.

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