Alert on Increase of Fake Cryptocurrency Apps

More than 10,000 people using Cryptocurrency fake Apps

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It’s true and clear that cryptocurrency is becoming very lucrative to invest in. This is because the prices of the main digital coins like Bitcoin and Ethereum are rising at a rocket speed. The popularity of cryptocurrencies have made them become mainstream, and almost everyone is interested if not invested already. Cryptocurrencies are mainly operated by exchange companies through applications. There are many exchange companies such that identifying the right app is a problem. As per a study carried out more than 10,000 people are using fake apps.

Poloneix fake Apps

The most popular fake app is called Poloneix. When you try to use this app, you will realize that all is not well. The Poloneix App steals users accounts and their cryptocurrency coins. The app is very attracting with a good eye-catching logo, and unsuspecting investors end up in this trap.

The poloneix app is just an example of the many existing similar applications. If you check Google Play, you will realize more than five apps bearing the name Poloneix. The app can be impersonated due to lack of an official mobile app. Even though Android platforms are the most affected the others have fakes ones too and should not be assumed.

The lack of an official mobile app always creates a void which hackers and scammers are always looking for. The reduce scammers Poloneix is supposed to follow the suit of Coinbase and others by having its own official app.

Even though Poloneix should be blamed, Google Play should have come in and eliminated the duplicated apps. They should also be informing users about face accounts or insisting on companies to have official accounts.

Being Careful and Choosy

All cryptocurrency users should be aware that scammers will try to use every opportunity. There have been reports of people making calls lying that they are support team from Coinbase and Kraken. This problem is not only affecting cryptocurrency because as at now more than 1million people have downloaded a fake WhatsApp.

A very notorious malware called Bankbot which steals passwords and peoples details was deleted by Google. The worrying this is that after being deleted twice it still showed up again. This time around it has come in a new came, and it calls itself Crypto Currencies Market Place.

All cryptocurrency users are advised to only use apps that are from official exchange companies. More to that they should not click any app or adverts that come along during their operations. More tom that it’s good to confirm carefully all transactions because there is malware that change destination addresses.

Apple ecosystem is not very clean, but most of the problems seem to be coming from the Android platform. It’s advisable to use desktops and avoid using mobile phones. Actually, phones should be used for price checks only.

In conclusion, exchange companies should do more to ensure their clients are safe. By allowing their apps to be duplicated could cause serious harm to this growing industry.

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