“They move the conversation to investment and ask them to invest a small amount, and even let them withdraw that money with profit as bait,” according to Sophos. The trading apps tend to be cryptocurrency-related, since, more so than with fiat currency, cryptocurrency payments are irreversible. “Once the victim becomes familiar, they ask them to install fake trading applications with legitimate looking domains and customer support,” researchers explained. is to begin there, then move the conversation to messaging apps. According to a Sophos report last fall, the attackers’ M.O. citizens over 300 million dollars in 2020, up 50 percent from 2019.Ĭapitalizing on this trend, last year a new and well-coordinated campaign began targeting users of dating apps like Bumble, Tinder and Grindr. Last year, the Federal Trade Commission reported that “romance scams” cost U.S. Perhaps that’s why hackers have been so successful in targeting dating apps over the years. In fact, scientifically speaking, our inhibitions and decision-making capabilities become impaired in the face of romance and sexual arousal. Successful CryptoRom scams have resulted in five-, six- and even seven-figure losses for victims. They’re leveraging new iOS features – TestFlight and WebClips – to get fake apps onto victims’ phones without being subject to the rigorous app store approval process. For about a year now, crypto-traders and lovelorn singles alike have been losing their money to CryptoRom, a malware campaign that combines catfishing with crypto-scamming.Īccording to research from Sophos, CryptoRom’s perpetrators have now improved their techniques.
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