Fake Wallet App Steals Over $70,000 in Cryptocurrency

According to BlockBeats, a report from Checkpoint Research revealed that a fake wallet application on the Google Play Store managed to steal over $70,000 in cryptocurrency through a phishing attack. The malicious software, which impersonated WalletConnect, was available on the platform for four months before being reported and subsequently removed. The app misled users who trusted the official store, redirecting them to other websites and tricking them into authorizing transactions, thereby gaining access to their funds. The fraudulent application was downloaded 10,000 times, with 150 individuals falling victim to the scam.