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Experts point out the risk that billions of smartphone users may lose all of their cryptocurrency

A recent study has shown that Android and iPhone users are at risk of being stolen electronic money them through “a malicious phishing campaign”.

Cybersecurity company, ESETfound that malicious apps that clone Coinbase and MetaMask are “proliferating”.

The report from ESET says that the hackers behind these apps use fake websites or advertisements placed on legitimate websites to deliver malicious apps. Social networks like Telegram and Facebook are also used for this purpose.

Users of MetaMask and Coinbase wallets in China were the first targets of hackers. It is only a matter of time before it spreads to other regions.

According to Lukáš Štefanko, security researcher of ESETwho discovered this phishing campaign, it’s important that people be careful when downloading the apps they use to manage their cryptocurrencies.

Experts point out the risk that billions of smartphone users may lose all their cryptocurrency - Photo 1.

Malicious electronic management applications can monitor chats to easily steal victims’ funds.

These apps pose even more of a threat because some use an insecure HTTP connection to secretly send the victim’s keystrokes to the hacker’s server.

This makes it possible for attackers, as well as any other hacker, to spy on chats to easily steal victims’ funds.

Experts point out the risk that billions of smartphone users may lose all their cryptocurrency - Photo 2.

The recent report echoes previous warnings from regulators about the risks of cryptocurrencies

Recently, the European Union’s securities, banking and insurance watchdogs warned that crypto investors could lose all their money. It also further recommends that crypto investors should be aware of the risks when investing in this sector.

Users are at a very high risk of losing their entire assets if they invest in cryptocurrencies“, the three securities, banking and insurance supervisory bodies of the European Union released a joint statement on March 17.

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