Man targeted with fake cryptocurrency app in scam that could steal big bucks

Scams usually follow a certain script. The “woman” Target is messaging says she has an “uncle” in the investment business and has a specific cryptocurrency app on the App Store or Google Play Store that allows Target to trade cryptocurrencies. Invite the target to install. After guiding the victim through the process of installing the “fake” app, the “woman” helped the victim make a deposit using the legitimate cryptocurrency app Binance, which Mark transferred to the fake app. help transfer.

MBM_Bitscan App on the App Store

According to Sophos, the malicious apps used in the App Store are called ‘Ace Pro’, ‘MBM_BitScan’ and ‘BitScan’ in the Google Play store. The app allows victims to withdraw small amounts from their accounts initially to gain the target’s trust, but locks the accounts to prevent large withdrawals.

To bypass App Store defenses. A malicious person involved in a scam submits an app signed with a valid certificate issued by Apple. This is required for all apps displayed on the iOS app storefront. Until the app is approved by Apple, it will work normally. Once approved, the domain name is changed and the app connects to malicious servers.

How this scam works

Although the iOS and Android versions of the fake app show different vendor names, the same command and control server (malware-controlled) from a domain that appears to be spoofing a legitimate Japanese cryptocurrency exchange called bitFlyer. (which sends instructions to the .

Use common sense and you should be able to avoid being duped

Now you know who the “pig” is being slaughtered. A “pig” is a victim who is drawn into a scam through long conversations. By allowing Target to access a small percentage of the initial deposit, Target trusted the entire process and bought the scheme. I hate to keep scratching my head on this, but you should check the comments section of any app you plan to install on your device from a developer you’ve never heard of. Please run away immediately.

Also, since very few victims get hooked (this is a high-yield rip-off that relies on a low success rate for attackers to make enough money), there aren’t many complaints about the app. Still, if you use common sense and think with your brain rather than another part of the male anatomy, you should be able to avoid being preyed upon.