Crypto crooks target iPhone users through dating apps, report says

Attackers post fake profiles on legitimate dating sites. They connect with their targets through these sites and convince them to continue the conversation on a messaging platform.

An international cryptocurrency trading scam targets iPhone users through popular dating apps, such as Bumble and Tinder, cybersecurity firm Sophos has said.

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The cybersecurity firm has discovered an attacker-controlled Bitcoin wallet that contains nearly $ 1.4 million in cryptocurrency, collected from victims. Sophos researchers have named the threat “CryptoRom”.

The CryptoRom scam relies heavily on social engineering at almost every stage, Jagadeesh Chandraiah, senior threat researcher at Sophos, said in a blog post.

Attackers post fake profiles on legitimate dating sites. They connect with their targets through these sites and convince them to continue the conversation on a messaging platform.

They then persuade the target to install and invest in a fake cryptocurrency trading app that delivers good returns. If the victim asks for a refund or tries to access the fund after the investment, it is refused and the money is lost, Sophos said.

Attackers can also access victims’ iPhones, he said.

They can target iPhone users with their fake crypto trading apps and get remote management control over their devices. They can collect personal data, add or delete accounts, install and manage applications for other malicious purposes.

“Scammers have used social engineering to fool innocent people. We urge investors to exercise caution and only trade on legitimate platforms that follow KYC and AML guidelines,” the spokesperson said. WazirX cryptocurrency exchange. The Hindu on how to prevent such incidents.

Read also | Chinese crypto addresses sent $ 2.2 billion to scams and darknets in 2019-2021

The India-based exchange also stressed that it is crucial to educate newcomers to the crypto business on security practices to secure their accounts and funds.

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