How to Stay Safe from the Encrypted Currency Tricks in the Android System

The recent rise in cryptocurrency on the Android operating system platform has shown that such incidents are not limited to PCs, and it highlights the importance of knowing exactly what is happening so that you do not unintentionally participate in something.

Rising prices and the popularity of encrypted currency not only attract many potential users, but also inspire online scammers to find new and innovative ways to reach all of these virtual currencies. Of course, cheating on encrypted currencies is not limited to PCs, have already appeared on the platforms of Android systems through the use of a large range of disguises.

Fake applications for encrypted currency exchange

Coded exchange is an attractive goal for scammers, not only because of its popularity among amateurs, but because many of them do not offer mobile applications, such “unqualified land” acts as a magnet for scammers, who do not waste time coming out in a malicious and harmful mix.

Typically, the purpose of these counterfeit applications is to phishing for login credentials through official exchange, and attackers use stolen credentials to acquire hacked accounts to entice users to abandon their passwords. Fraudsters try to counterfeit, such as the name of the application developer Application code and user interface, usually mimicking those legal services, and the application may appear well covered and well categorized by fictitious users.

The latest cases of these scams are phishing applications, discovered on the Google Play Store last year and have been repeatedly reappeared ever since, and the sworn currency of the Poloniex exchange currency is encoded.

Applications of the fake encrypted coin purse

Similar phishing systems infect users of encrypted currency portfolios. Instead of just a password, attackers directly acquire keys and phrases for the wallet. In practice, this means that the risk is higher for users of encrypted currency portfolios.

The stolen password may be reset to encrypted currency exchange with the help of the exchange that holds the user’s private key. In the case of the wallet, however, the private key is the one that is at direct risk, and no one can save the situation.

We recently noticed this kind of malicious behavior in applications that impersonate MyEtherWallet, a popular and open source etherium. Applications that have been uploaded to Google Play several times over the past months have been trying to steal users’ private keys by using redundant terms to use different pseudo login forms , Such as the Poloniex exchange, and MyEtherWallet does not have a formal mobile app, which makes it an appealing source for fraudsters.

In addition to phishing applications, we also analyzed counterfeit fake currency portfolios, which only try to trick victims to convert currencies into attackers’ wallets.

This type of trick follows a simple procedure that pretends to create a new wallet key and directs users to send their digital currency to the generated address. If users follow these instructions, they will soon find that the currencies they sent have disappeared.

Malicious codecs running on the Android system

With the recent boom in the use of cryptocurrency, the number of miners on the Android operating system has also increased. Because malware programs track approval systems, are users familiar with and aware of how to use their devices in exchange and mining for cryptocurrency or user familiarity and awareness That his machine was not kidnapped by someone else to make profits?

We recently discovered that there is a version of the famous Bug Smasher game, installed from Google Play between 1 and 5 million times, has been secretly extracted mining code Monero on users’ machines.

An imaginary mining of encrypted coins and free gifts

A separate category of coded coins belongs to applications that pretend to be user-specific, but in fact have no role. Like traditional ads, some of the counterfeit metals we analyzed also try to deceive users by attracting them to five-star rankings. These applications are not malware themselves, but we consider them undesirable because of their deceptive nature.

Interestingly, the fraudsters who work behind some counterfeit metals do not appear to be concerned about the futility of their promises, along with the countless minerals of counterfeit bacon coins. We have also found applications that eliminate the XRP coin ripple, the definition.

All of the above apps have been detected and blocked by the Acet system and suspended from Google Play Store and users who have protection on Google Store are protected by this mechanism.

How can you stay safe

Here’s what you can do to avoid falling victim to cryptocarnes on Android systems:

  • Cure exchange of encrypted currency and portfolios with the same level of caution in banks’ applications on your mobile phone.
  • When you download a phone app to exchange encrypted currency or a wallet, make sure that the service already offers a mobile app, the app must be linked to an official service location.
  • If the option is available, use binary authentication to protect your Exchange or Wallet accounts with an additional layer of security.
  • When you download apps from Google Play, watch out for downloads, as well as app ratings and reviews.
  • Keep your Android device up-to-date and use a reliable, secure solution for mobile devices to protect against the latest threats.