The U.S. Federal Bureau of Investigation warns against cybercriminals who target crypto investors.
According to FBI, cybercriminals are using crypto-asset investment apps on mobile devices to defraud victims.
“The FBI is warning financial institutions and investors about cybercriminals creating fraudulent cryptocurrency investment applications (apps) to defraud cryptocurrency investors.
The FBI has observed cybercriminals contacting US investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which the cybercriminals have used with increasing success over time to defraud the investors of their cryptocurrency.”
Federal law enforcement agencies say bad actors are creating fake websites and using legitimate business information to deceive investors.
The victims were tricked into downloading fake apps and depositing cryptocurrency assets onto a platform in order to get $4 million from cybercriminals.
“Between 22 December 2021 and 7 May 2022, unidentified cyber criminals purporting to be a legitimate US financial institution defrauded at least 28 victims of approximately $3.7 million.
The cybercriminals convinced victims to download an app that used the name and logo of an actual US financial institution and deposit cryptocurrency into wallets associated with the victims’ accounts on the app.
13 of the 28 victims tried to withdraw money from the app. However, an email was sent to them stating that they needed to pay taxes before they could make withdrawals. After paying the supposed tax, the victims remained unable to withdraw funds.”
According to the FBI, cybercriminals have defrauded over $200 million from more than 200 victims.
“The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million.”
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