The Federal Bureau of Investigation (FBI) has issued a warning about fake cryptocurrency apps defrauding investors. “The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million,” said the U.S. law enforcement agency.
FBI’s Crypto App Warning
The cyber division of the Federal Bureau of Investigation (FBI) issued a notice Monday warning investors and financial institutions about fraudulent cryptocurrency applications. The notice states:
The FBI is warning financial institutions and investors about cyber criminals creating fraudulent cryptocurrency investment applications (apps) to defraud cryptocurrency investors.
The FBI explained that it has observed cybercriminals contacting U.S. investors, claiming to offer legitimate crypto investment services. The criminals then convinced investors to download fraudulent mobile apps.
The notice continues:
The FBI has identified 244 victims and estimates the approximate loss associated...
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