Where there is currency, malicious scammers will try to find a way to dupe people so you need to be extra careful not only with your cash and credit cards, but also crypto currencies. With the craze of crypto currencies taking over the world, people are finding it convenient to manage their currencies using a mobile wallet. As a result, thousands of mobile wallet apps are released in the Google Play store for Android users.
However, you need to be really careful when downloading a mobile app because there are numerous fake MyEtherWallet apps on the platform. Lukas Stefanko is a Malware researcher and he recently took to Twitter to warn users about this malicious app that is getting distributed on Google Playstore. After being installed on the mobile phone, this malicious app prompts the users to log in with their 12 keys password.
As per the app data released by Google Playstore, this malicious app made its appearance in the beginning of the year. Since then, it has been downloaded 100 to 500 times by Android users. While it is good that many people have warned users from using this app as it is phishing private keys, that app has an alarming 3.8 rating.
Unfortunately, scammers are now targeting cryptocurrency users with their malicious applications. The cryptocurrency owners are vulnerable mainly due to lack of enough knowledge in this area.
Vitalik Buterin, the founder of Ethereum has also requested the ethereum users to be extra careful and cautious when downloading a mobile app. He requested users to be wary is someone posing as him requested them to ‘send funds’ to his account.
This is not a first instance when a malicious app is trying to dupe crypto currency users. Recently Google Playstore was flooded with fraudulent copycats of Binance. It prompted people to turn into affiliates.
If you are curious about knowing about the most recent scams on the cryptocurrency space, we would recommend that you consult with Ethereum Scam Database.
To stay safe in this space, it is important that app users become extra careful when they download a new app. First of all, download only from a reliable source. Next, read the customer comments to see if there are warnings from users about it being a scam or fishing app. After downloading the app, if it prompts you to enter your 12 digit private key then ensure that you never share it.