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Google Playstore Evaded As Four Fake Cryptocurrencies Are Found

Usman Salis



It is believed that about four fake cryptocurrency wallets have been identified on Google play store. This was found by renowned researcher Lukas Stefanko who is known to deal with the activity of malware. It is believed and reported by him that this wallet was only present with the aim of stealing personal data or information about their users.  

The applications which have been branded as fake were mostly interested in Tether, NEO, Ethereum and MetaMask. It is believed that the personal data which these applications were most interested in were the bank account details and information about the credit card of their users. For Stefanko, he believed that the four wallets could be classified into different forms. For example, he referred to MetaMask as a sort of Phishing wallet while he believed that the rest was simply fake. It is believed that once the app or fake wallets gets into the system of the user, it would ask for the password and private key of the user.

It is to be noted that this researcher has earlier created a video in order to explain his research and the danger which is bound to come with getting a phishing app. One app which he referred to is the NEO app which is believed to have been downloaded and installed by more than a 1000persons these last few months alone. It is believed that these fake wallets did not attempt to create a new address or a key but instead decided to only show the public address but gave the user no access to their wallet. With the thought that this app was already creating their public address, most users would choose to deposit or leave funds in their fake wallet but soon enough found out that it was impossible to withdraw the cryptocurrencies since the private key being used was not theirs but that of a hacker.

The research also noted that most of the app which was created were made through a Drag-n-Drop type of service. The unique thing about these kinds of service is that it does not need any form of specific coding in order to be built. What this actually means when looked at from the general picture is that the ability to create an app that causes mayhem is now left in the hands of anyone at all. This spells doom for most of us outside the technological world.

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