Bitcoin scammers targeting iPhone users via dating apps: How to identify such scams tips to stay safe

Crypto scams are rising with every passing day and in the latest incident, Bitcoin scammers are targeting iPhone users via popular dating apps such as Bumble, Tinder, among others. Let’s take a look at the latest crypto scam targeting iPhone users and tips to stay safe.

With more and more people getting into investing in cryptocurrencies, incidents of crypto crime are on the rise. Such cases are rising with every passing day. In the latest incident, Bitcoin scammers are targeting iPhone users via popular dating apps such as Bumble, Tinder, among others.

A report released in the month of April this year, the total crypto crime in 2020 garnered around $10.52 billion, which is roughly around Rs 79,194 crores. Let’s take a look at the latest crypto scam targeting iPhone users and tips to stay safe.

Bitcoin scammers targeting iPhone users

The latest crypto scam targeted iPhone users using dating apps such as Bumble and Tinder. As per a report coming from Sophos cybersecurity researchers, a Bitcoin wallet was identified with tokens worth $1.4 million, which roughly translates to around Rs 10 crores. The report suggests that the money in the wallet was collected via online scams. The report reveals that these crypto-scammers have been targeting people in Asia and are now expanding in Europe and the United States.

Sophos reveals that these Bitcoin scammers were not only duping iPhone users into stealing their hard-earned money but also convincing them to download fake crypto applications with the aim to steal their personal data as well. The report doesn’t clearly reveal what kind of data these scammers have collected so far.

The report suggests that scammers managed to take control of victims’ iPhones by accessing their accounts through fake crypto-trading apps. The Sophos report further stated due to the scam, “one victim lost $87,000 (roughly Rs. 65 crores).”

“There are additional news reports in the UK of these scams, with one victim losing $45,000 (roughly Rs. 33.8 lakhs) to a scammer who contacted them through Facebook, and another who lost $25,000 (roughly Rs. 18.2 lakhs) after being scammed by someone who contacted through Grindr,” the report further highlighted.

Commenting on the latest crypto scam incident, Jagdeesh Chandraiah, senior threat researcher, Sophos said that once these scammers “made contact with a target, the attackers suggest continuing the conversation on a messaging platform.” These scammers then try to convince the target to install and invest in a fake cryptocurrency trading app.

How to identify, stay safe from crypto-scams

Researchers at Sophos have warned crypto investors to only use verified exchange and trading websites and apps to facilitate secure crypto transactions.

Sometimes it can get very tricky, and you may not be able to identify a crypto-scam or an online scam very easily. We have listed some tips to keep in mind to identify crypto scams and not fall prey to such incidents.

-Beware of unknown people/strangers (in this case – unknown users on dating apps) being too sweet and initiating conversation.

-Never click on suspicious links you receive from unverified sources/users/someone you do not know.

-In incidents like this one, always download apps from verified platforms like Google Play Store and Apple App Store. It is also suggested to check the developer before installing any app on your mobile device.

-Never share your banking details with any unverified application, as this gives an advantage to scammers to easily steal your hard-earned money.

-Always ensure to re-verify the account on who you are conversing with via an online medium. In the case of dating sites, always ensure to check who you match with. A proper check on the person is required, especially with the rising online scams globally.

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