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The Register: Bogus Cryptocurrency Apps Steal Millions in Mere Months

July 18, 2022
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Cybercriminals posing as legitimate investment firms and cryptocurrency exchanges have stolen tens of millions of dollars from more than 200 people by convincing them to download mobile apps and deposit cryptocurrency into wallets owned by the perpetrators.

"While crypto crime gets FBI attention to drive consumer education, it can also place even more pressure on legitimate crypto industry players to deliver new levels of trust and integrity," Bower told The Register. "The SEC's new Crypto Assets and Cyber Unit was formed for exactly that and will no doubt be looking for proof the industry itself is resilient in the face of crime risk, attack and compromise to investors who bear the brunt in the hip pocket today."

Read the article on The Register for the full story.