To evade this sort of oversight, the malicious apps we investigated use third-party services to deploy that leverages what’s known as a Super Signature process. Bypassing the iOS App StoreĪpple’s iOS App Store and enterprise private app store programs screen applications regularly and revoke the developer account of fraudulent app developers-killing the malicious or fraudulent apps deployed with the accounts’ digital signature.
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The download page for the fake Kraken trading app. A counterfeit website posing as one for Kraken Digital Asset Exchange, one of the largest and oldest cryptocurrency trading sites. Counterfeit trading apps’ icons, compared to the icons for real versions of those apps. We found hundreds of fake trading apps being pushed through the same infrastructure, each disguised to look like the official trading apps of different financial organizations. A warning on the company’s actual website opens with an alert about fraudsters scamming users with a similar named site and asks its users to steer clear of such apps.Īs we investigated the fraudulent Goldenway app, we discovered that the scheme was much more wide-ranging. Goldenway is aware of these sorts of scams. When the victim asked to withdraw the cryptocurrency, the scammers behind the fake persona at first started making excuses, and then finally blocked the victim’s account-with all the purchased cryptocurrency in the scammers’ possession. The scammers then walked the victim through the installation and encouraged the victim to buy cryptocurrency and transfer into their wallet.
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The page had options to download both iOS and Android apps. The link was to a page impersonating a Hong Kong based trading and investment company called Goldenway Group. After gaining trust, they then convinced the victim to download a cryptocurrency trading app, sending the victim a link. They avoid requests for face-to-face meetings, citing the Covid-19 pandemic. The scammers befriended the victim, and shifted communications to a messaging app. According to the victim, the initial contact with the actors behind the app came through a social media and dating site. Our research began when we were asked to investigate an application by a user who fell victim to a scam. Each of these fake apps had a dedicated website tailored to the impersonated brand to better fool potential victims. Among them were counterfeit apps impersonating major financial firms and popular cryptocurrency trading platforms, including Barclays, Gemini, Bitwala, Kraken, Binance, BitcoinHK, Bittrex, BitFlyer, and TDBank. These websites forwarded victims to third-party sites that delivered iOS mobile applications via configuration management schemes, iOS mobile device management payloads carrying “ Web Clips”, or Android apps depending on the device used.ĭuring investigation of one of the apps, we encountered a server which was hosting hundreds of fake trading, banking, foreign exchange, and cryptocurrency apps. In some cases, the schemes to distribute these applications leveraged social engineering through dating sites to lure in victims, and websites designed to look like those belonging to legitimate companies.
![my fake app my fake app](https://knowtechie.com/wp-content/uploads/2019/07/samsung-adware-fake-update-app-reviews.png)
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These fraudulent applications are aimed at exploiting the increased interest in trading apps, driven by the recent significant rise in the value of cryptocurrencies and interest in low-cost or free stock trading driven by stories like that of the recent social-media driven speculation in GameStop stock. As we investigated, we uncovered several other counterfeit versions of popular cryptocurrency trading, stock trading and banking apps on iOS and Android, all designed to steal from those fooled into using them. Recently, we were tipped off to a fraudulent mobile trading application that masqueraded as one tied to a well-known Asia-based trading company.