A fake wallet app impersonating WalletConnect, a popular Web3 protocol, has been discovered on the Google Play Store.
The app, which was available for four months, stole more than $70,000 in cryptocurrency from 150 unsuspecting users through a phishing attack.
📌How the attack worked:
- The fake app directed users to a website that tricked them into authorizing transactions and granting access to their funds.
- The app was downloaded 10,000 times, but only 150 users fell for the scam.
☝🏻Safety tips:
- Verify the authenticity of the application before downloading it.
- Check out the app's reviews and ratings.
- Check the application history for suspicious changes.
- Use multi-factor authentication to protect your funds.
🤓Expert words:
"Basic cybersecurity hygiene is paramount. If you're using a cryptocurrency trading platform, make sure you implement multi-factor authentication," says Michael McLaughlin, co-head of the Cybersecurity and Data Privacy Practice Group.
🚨Protect your funds:
- Download applications from trusted sources.
- Check the application's contact and support information.
- Do not provide sensitive information to unknown applications.
📚Stay informed:
Follow security news and updates from the crypto industry to protect your funds.
🫱🏻🫲🏽Share this information:
Help others stay safe and protect their funds by sharing this security alert.