WalletConnect has warned cryptocurrency users about a fake app available on the Google Play Store that has managed to steal over $70,000 worth of cryptocurrency.
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the details:
In a post on September 29, WalletConnect noted that the offending app had been removed from the Google Play Store, but that was after the scam app had exploited more than 150 victims.
The fake app pretended to be part of the WalletConnect protocol, targeting users via their mobile phones.
The problem began on September 26 when Check Point Research (CPR) revealed that the fake app, which had been available for at least five months, had been downloaded more than 10,000 times.
The app was launched under the name “Mestox Calculator” before later morphing into the fake WalletConnect app.
Despite the multiple downloads, most users did not link their wallets, limiting the damage.
The app relied on social engineering tactics, including fake reviews and similar brands, to attract users.
After downloading, the app would ask users to link their wallets and grant permissions, so that the scammers could perform fraudulent transactions and withdraw funds from the wallets.
WalletConnect stated that there is no official app for it, and urged users to be wary of such fake apps, while working to prevent such incidents from happening again in the future.
