FBI Warns Fake Cryptocurrency Apps Are Defrauding Investors

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Cyber criminals are creating fake cryptocurrency apps in an effort to defraud investors, according to a Monday warning from the FBI. The Cyber Division of the Bureau identified 244 victims that have been swindled by fraudulent apps, accounting for an estimated loss of $42.7 million. 

The fake cryptocurrency apps have used the names, logos and other identifying information of legitimate apps, said the FBI. These fake apps have been seen contacting crypto investors and falsely claiming to offer real services to push people to download them. 

The FBI advises investors to be wary of unsolicited requests to download investment mobile apps and take steps to verify whether the app is legitimate before downloading. 

If you suspect you’ve been deceived by a fake cryptocurrency investment app, contact the FBI through the Internet Crime Complaint Center or your local field office.

More to come.