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.