PANews reported on September 28 that according to Decrypt, a fake wallet app that had been on the Google Play Store for four months stole more than $70,000 worth of cryptocurrency in a phishing attack and was subsequently shut down. The malware disguised itself as the popular Web3 protocol WalletConnect, directing unsuspecting users to a website to trick them into authorizing transactions to gain access to funds. According to a report from Checkpoint Research, the app was downloaded a total of 10,000 times, but only 150 people were fooled. The actual WalletConnect enables secure communication between cryptocurrency wallets and dApps through QR codes, allowing users to approve transactions and interact with dApps without exposing private keys.
