New Delhi: Cryptocurrency scammers are targeting iPhone users across three continents through popular dating applications such as Tinder and Bumble, according to a new analysis by cyber security firm Sophos Research. According to research, fraudsters have not only stolen millions of dollars through this scam, but they can also gain access to the victims’ iPhones.
Sophos Research has uncovered “a bitcoin wallet owned by perpetrators of cryptocurrency fraud, containing approximately $1.4 million in cryptocurrencies that were allegedly collected from victims”. According to the report, this rumor has spread from Asia to Europe and America.
Jagdish Chandraiah, Senior Threat Researcher at Sophos, explains the operation of the scam, saying, “First, attackers post fake profiles on legitimate dating sites. Once they have made contact with a target, the attackers use a messaging platform. They then try to persuade Target to install a fake cryptocurrency trading app and invest.”
“At first, the returns sound great, but if the victim asks for their money back or tries to access the money, they are denied and the money is lost. Our research shows that attackers are making millions of dollars from this scam.”
According to Sophos, scammers can use fake cryptocurrency software to gain access to victims’ iPhones in addition to taking money. Cybercriminals do this using ‘enterprise signature’, a method that allows software developers to pre-test new iOS programs with selected iPhone users before submitting them to the Apple App Store for review and approval. Is.
Using this system, attackers could target large groups of iPhone users with their fake crypto-trading apps and gain remote management control over their devices, Sophos warned.
The firm explained that in addition to just stealing money from victims, attackers can also collect personal data, add and remove accounts, and install and manage apps for other malicious purposes.
“Until recently, criminal operators mainly distributed fake crypto apps via fake websites that resembled a trusted bank or the Apple App Store. The addition of the iOS Enterprise Developer system poses further risks to victims. Because they can hand over to attackers the rights to their devices and the ability to steal their personal data,” Chandraiah said.
“To avoid falling prey to these types of scams, iPhone users should only install apps from Apple’s App Store. The golden rule is that if something sounds too risky or too good to be true – like someone you barely know is telling you about some ‘great’ online investment plan that will make a huge profit – then Sad, maybe it is,” he suggested.
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