A fake app that steals cryptocurrency was found on Google Play

According to some reports, the app has been downloaded more than 1,000 times. What should you do to protect yourself from scammers?

A fake app that steals cryptocurrency was found on Google Play. It was discovered by ESET analysts. The company's experts told what to do to protect yourself from scammers.

The scam app that appeared in the playmarket is called Coin Wallet. According to experts, the application really threatens the security of users' cryptocurrency.

The creators of the app, however, say it can create wallets for different types of cryptocurrency. But its real goal is to trick users into sending digital money straight to scammers.

The cybercriminals started 13 wallets for cryptocurrencies of different supported types. When downloading the app, all victims receive the same addresses belonging to the scammers.

ESET experts warned users and recommended to be more vigilant. The fact is that if Bitcoin continues to rise in value, the number of applications of this kind will increase significantly.

Coin Wallet was available for download on Google Play from February 7 to May 5, 2019. The number of downloads of the app during this time passed the thousandth milestone.

Experts advised users to use cryptocurrency applications and other financial applications only when they are personally confident in its connection with the official site of the service. Their personal data can be entered into online forms only if users are 100% confident in the safety of the applications and their legality.

Experts also noted that it is important to update their devices in time and use reliable security solutions to block or remove malware and warn of potential threats.