Hackers Are Taking Advantage of Bitcoin Growth in Yet Another Cryptocurrency Scam

Hackers Are Taking Advantage of Bitcoin Growth in Yet Another Cryptocurrency Scam
January 08
08:00 2021

Bitcoin continues growing, with the cryptocurrency reaching an all-time high of over $40,000 and trading at around $38,400 – $38,500 at the time of writing. At the same time, hackers are taking advantage of this growth by developing software applications to scam cryptocurrency out of users’ wallets.

News.bitcoin.com, citing a security firm Intezer Labs, reports on the three malicious apps for various platforms. These apps are infected with a RAT (Remote Access Tool) malware ElectroRAT. According to the source, the campaign for ElectroRAT started way back in January 2020. Moreover, with clever marketing, it reached thousands of people. The infected apps include a fake poker app DaoPoker and two fake cryptocurrency trading apps Jamm and eTrade/Kintum.

The source suggests that hackers are being thorough in making these apps more appealing to users all over the world. That’s because they develop them for Mac, Windows, and Linux platforms, making them seem more reliable. Moreover, they post promotional messages on crypto-related forums asking users to download the fake apps infected with ElectroRAT malware.

Cryptocurrency scams have risen noticeably in 2020 amidst the Covid-19 pandemic. In particular, several scams were taking place on social media. Those included the massive hack of Twitter, fake Facebook advertisements, and hacking of YouTube accounts. Moving into 2021, it seems that scammers do not give up on taking advantage of unsuspecting users, especially considering the Bitcoin rally.

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