Bitcoin exchange apps are risky claims new report
|Christian Hargrave in Blockchain Monday, January 29, 2018|
Cybersecurity company issues warning that over 600 fraudulent cryptocurrency apps can be found on leading app stores.
He said, “We are seeing threat actors around the world exploiting what is already a hostile currency in a lawless digital world. Before handing over any cash or personal data, investors should carry out thorough research into the exchange and wallet apps they intend to use. By checking the developer’s name, user reviews and the number of app downloads, investors can measure the validity of an app and be more confident in their choice.”
They research from RiskIQ showed almost 3 percent of apps with “Bitcoin exchange” in the title were blacklisted, as well as 2.6 percent using “Bitcoin wallet” and 2.2 percent listed as “cryptocurrency.”
Hackers behind the blacklisted apps, which have been blacklisted by one or more cybersecurity vendors, can trick users into handing over large sums of money or personal details for financial gain.
The rise in unofficial and potentially malicious apps across multiple app stores will alarm potential investors looking to buy into Bitcoin.
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