Victim Lost His Crypto After Using Fake Skype App
Latest News News

Victim Lost His Crypto After Using Fake Skype App

  • User robbed of crypto after using fake Skype app
  • The preliminary investigation suggested that the masterminds behind the crime were a group of Chinese hackers.

SlowMist, a blockchain security firm, revealed details on a tragic occurrence in which the victim lost his assets after using a fake version of popular social network Skype.

According to preliminary findings, the perpetrators were a group of Chinese hackers with a history of targeting Web3 transactions.

According to Slowmist, the attackers utilized a tried-and-true phishing tactic to obtain funds. The fraudulent Skype program requested permission to view the users’ personal information.

Users didn’t detect any foul play since he treated it like any other social app. He had no idea what he was getting himself into.

After gaining access, the software began uploading data to the phishing gang’s backend interface, including photos, device information, and phone number. But wait a minute! The worst thing is still to come.

Read Also: Mysterious Wallet Transfers 18 Million MATIC To Coinbase – What’s Going On?

The fake app then began tracking users’ communication history. To detect a crypto wallet transfer, words like Ethereum [ETH] and Tron [TRX] would be specially searched. When one is found, the destination address is substituted with the one set by the attackers.

Slowmist stated that the method used was similar to that used in a fake Binance [BNB] phishing case last year.

Furthermore, across 1110 deposit transactions, the fraudulent Tron address received about 192, 856 Tether [USDT]. Similarly, the ETH chain saw 7,800 USDT inflows in 10 deposit transactions.

While SlowMist blacklisted the addresses, it sent a warning to individuals who downloaded the app. It advised them to use official download channels rather than downloading directly from the Internet.

Such incidents are more widespread in China, where Google Play is restricted and individuals are attracted to fraudulent apps on the internet.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.