The Internet has become an unsafe place for users of the cryptocurrency. Phishing, Trojans and other malware are on the alert, so even the most experienced holders of bitcoin need to be aware of. It is assumed that if the app stores of Apple and Google mobile app has been tested and downloaded by thousands of users, it is safe. Unfortunately, this version was far from the truth, because recently a lot of users were compromised.
Download of the fake application is fraught with serious consequences
Neither Google Play nor the App Store no one is immune from fraud, spam programs or fraudulent applications. Android users are most at risk from unscrupulous developers.
One of the most problematic applications, the fault is being shortchanged thousands of users, called Poloniex. Despite the fact that it’s called the official app Poloniex (Poloniex ® Offical App), and popular cryptocurrency exchange, in reality it doesn’t have anything to do with it.
Before you start downloading, it is sufficient to scan the app to see the familiar logo and some screenshots of the trading platform. On closer inspection there is a noticeable string of typos causing suspicion. Assessment, evidenced by average rating of the application, marked with one star from 162 reviews.
It is assumed that the average user will think twice before clicking on a link from suspicious e-mail, but hardly check the result that appears in the app store. Judging by the hundreds of disgruntled comments, “Poloniex ® Offical App” does nothing but steals account data of users, preserving their coins.
Who is to blame?
The above-described application Poloniex is not the only fake. In Google Play there are at least five applications named Poloniex. The cause of the fake applications Poloniex was the lack of an official mobile application of the company, than immediately took advantage of crooks. If Poloniex has released its app, as did other cryptocurrency exchanges, including Coinbase and Bitfinex, most fakes would have disappeared by itself.
Unfortunately, Poloniex has distanced himself and did not make any efforts to uncover similar cases. Twitter starting in 2016, comments on this occasion was not, and since then, thousands of users were duped. Google Play also deserves criticism for the lack of verification of applications. And users should pay more attention to suspicious content and exercise caution.
“Extreme vigilance is the price of freedom. Theft is rampant in small and large scale.”
These words were voiced by Wendell Phillips more than a century ago, but still relevant today.
Scammers will use all possible options to find a suitable target. Now there are even reports of fraudulent phone support, supposedly owned by Coinbase and Kraken. These fakes, often coming from India, represent the updated version of the fraud with support for Windows.
The problem of counterfeiting is concerned not only with the cryptocurrency space. More than a million people have downloaded a fake version of Whatsapp from Google Play store. Bankbot the malware, which steals passwords and details 2FA, twice removed from Google, but reappeared under the name “Market price of cryptocurrencies”.
Think about safety before you click
Users wishing to install the mobile app cryptocurrency exchanges Ticker or wallet, it is recommended to use links to official sites. Not worth the risk with a fraudulent version from the app store.
One company dealing with security, recently tested 90 popular cryptocurrency apps on Android which have millions of downloads. It was found that 94% had outdated encryption, 66% did not have it at all, and 44% used the encoded passwords in plain text.
The Apple ecosystem is not perfect, but the main problem with fraudulent or poorly coded apps associated with Android. Remember that the owners of cryptocurrency, value their safety, perform trading operations on your computer, and the smartphone is used only for monitoring of prices.