FBI warns of scammers targeting crypto investors

The U.S Federal Bureau of Investigation (FBI) has informed that cyber criminals are presenting rogue crypto currency themed apps. It’s the criminals effort to defraud investors in the virtual assets world. 

The agency asserted that they have observed cyber criminals contacting U.S investors and fraudulently claiming to offer legitimate crypto currency investment services. The criminals have been successfully convincing the investors to download fraudulent mobile apps to defraud them. 

According to reports, this illicit scheme has managed to trap 244 victims. The scheme takes advantage of the increase in interest in the crypto sector. A total of $42.7 loss has been estimated between October 4, 2021 and May 23, 2022. 

The law enforcement authority asserts that threat actors are misusing names, logos and other identifying information of legitimate business to create fake websites to lure potential investors. 

The FBI highlighted about three instances where the scammers masqueraded as a U.S financial firm and companies named YiBit and Supayos. They duped 34 victims of about $10 million by tricking individuals into downloading bogus crypto wallet apps. These apps were designed to plunder digital funds deposited into the accounts. 

The agency mentioned that financial institutions should warn their customers about this activity and inform customers as to whether they offer crypto currency services. The agency has also urged investors to stay alert and be on the lookout for unsolicited requests to download investment apps from untrusted sources. 

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