Researchers studying cybersecurity have found a malicious Android app on the Google Play Store that allowed its creators to steal around $70,000 in cryptocurrencies from victims over the course of almost five months.
The suspicious application, detected by Check Point, tricked gullible users into downloading it by posing as the official WalletConnect open-source protocol.
The cybersecurity group said in an investigation that the software received over 10,000 downloads thanks to fake reviews and consistent branding and that it was the first bitcoin drainer to target only mobile device users.
It is anticipated that the scheme has duped more than 150 users, while it is thought that not every user who downloaded the software was affected by the cryptocurrency drainer read more about Crypto Scam App Disguised as WalletConnect Steals $70K in Five-Month Campaign.
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