With the recent uptake and hype around cryptocurrencies, a similar trend is being observed with crypto related scams increasingly advancing its techniques and being more clever at catching both new and intermediate users off guards. The recent report from Nuggets News founder Alex Saunders reports on a fake Android app which has cost a loss of $20,000 to one of its members.
- The application called Uniswap DEX has hundreds of positive reviews and lures Android users to input their wallet’s private key after installation and reportedly draining all the users funds.
- To make things worse because of the fake review inflation during past month the application currently appears on third position when looking up “Uniswap” on the Google’s PlayStore.
- Upon launching the application the user is presented with a very basic user interface prompting for the victims private key or seed phrase upfront which is then sent over to the attacker’s remote server and drained out of funds.
- With that, users should be always on a watch out when being asked to input their private keys with many applications in the wild awaiting for preys to fall into the trap.
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