Trading in your old phone? Here’s why you need to protect your privacy before handing it over, in 60 seconds.
$1.4M stolen from dating app users - Are you at risk?
Dating apps have become more popular since the pandemic swept across the globe. With physical interactions out of the question for many, millions flocked to online apps to meet new people and possibly a love interest.
While caution should always be taken with these apps, the head doesn’t always think clearly when the heart is making decisions. Unfortunately, many people learned the hard way that not all potential partners should be trusted. Tap or click here to find out how a widower was conned out of his $200,000 life savings.
That’s just one example of a dating app gone wrong. There are many more. And a new report details how online daters have been swindled out of millions of dollars, leaving them with little to no recourse.
Here’s the backstory
Since dating apps are so popular, scammers are now using them to rip people off. And thieves have started using one of the oldest social engineering tricks in the book.
Scams come in many forms, but criminals need to carefully select a victim for this scheme to work. Starting conversations as any new connection would, the scammers aim to win over the victim’s trust.
Once the thief has gained trust, they ask their victim to invest in cryptocurrency. Of course, once they agree, they are directed to download fake crypto apps, which leads to handing over money they will never get back.
How the scam works
To no surprise, the crypto apps are fake. The scammers somehow also managed to dupe Apple’s Developer Enterprise program. Creating crypto apps that look like Bitcoin wallets, scammers used loopholes in the Developer Enterprise program to control the victim’s phone and clean out their wallets.
Targeting victims through dating apps like Tinder, Bumble, and Facebook Dating, the scammers have made off with an estimated $1.4 million.
Sophos security reports that after making significant progress with a victim, the scammer starts to mention crypto wallets. “They then try to persuade the target to install and invest in a fake cryptocurrency trading app. At first, the returns look very good but if the victim asks for their money back or tries to access the funds, they are refused, and the money is lost.”
Investing safely
Thousands of crypto accounts drained - Don't make this money mistake
When cryptocurrency came about, few people thought it had any value. Today it’s an integral part of many people’s investing strategies. Crypto like Bitcoin and Etherum have continued to soar in value. Tap or click here for 12 questions you’re too embarrassed to ask about Bitcoin.
🐺 I hope this isn’t true: Online sleuths say YouTuber MrBeast has raked in $23 million through a web of crypto wallets and shady schemes. It’s got all the drama: A long trail of insider trading, misleading investors, and using his influence to pump and dump. Their proof? Transactions, charts, messages and pics of him partying with crypto entrepreneurs. Here’s the full investigation. Great read, btw.