The FBI warns that fake cryptocurrencies steal millions in Bitcoin

Federal agents have identified 244 victims as lost around $ 42.7 million for fake cryptocurrency apps over the past year, according to a Monday announcement from the FBI. There are many ways to lose money on the internet, anduunfortunately, There are tons of people who fall for these scams over wicked amounts of money to hackers, in the belief that they are just trying out a new Web3 platform.

Starts the week in a cheerful tone, the agency warned in its PSA that cybercriminals have “contacted US investors, fraudulently claimed to offer legitimate cryptocurrency investment services, and persuaded investors to download fake mobile apps, which cybercriminals have used with increasing success over time to defraud investors of their cryptocurrency.”

In most cases, the scam appears to have been fairly straightforwardforward: the villains would convince a victim to download an app that used the same name and logo to an actual crypto company. After that, the hackers wanted Persuade the person to make deposits of crypto in wallets that they said were linked to their new accounts. Afterwards, victims were usually unable to withdraw money from their wallets, and the criminals maintained control over the detained funds.

In one particular case, cybercriminals posed as employees of the company YiBit, a cryptocurrency exchange that appears to have gone out of business in 2018. Using a fake app, criminals were able to steal about $ 5.5 million from four different victims.

In another similar case, hackers pretended to be employees of a fake company called “Supayos” or “Supay”, which used the same name as a crypto company from Australia.

In another scam, unidentified cybercriminals increased by around $ 3.7 million 28 individuals in just six months by pretending to be representatives of a legitimate financial entity. The FBI did not provide further details.

This is not exactly new information. It has been Well known for years that fake cryptocurrencies are a sure way to lose a lot of money. As a way to avoid this type of financial disaster, the FBI suggests taking a number of precautions: these include being on the lookout for “unwanted requests to download investment applications” and taking steps to verify that an app is legitimate before downloading it. . In Gizmodo’s opinion, abstinence is the surest way to protect yourself: Do not invest in crypto at all.