Hackers using fake play-to-earn gaming apps to steal cryptocurrency, warns FBI
The Federal Bureau of Investigation (FBI) in the US has warned that threat actors are now using fake rewards in so-called "play-to-earn" mobile and online games to steal millions worth of cryptocurrency.
They accomplish this through the use of custom-created gaming apps that promise massive financial rewards directly proportional to investments made to potential targets with whom they have previously established trust through lengthy online conversations, reports BleepingComputer.
"Criminals contact victims online and build a relationship with victims over time. Criminals then introduce victims to an online or mobile game, in which players purportedly earn cryptocurrency rewards in exchange for some activity, such as growing 'crops' on an animated farm," according to a new Public Service Announcement from the FBI's Internet Crime Complaint Center (IC3).
Victims are instructed to purchase a cryptocurrency and create a crypto wallet in order to participate in these large reward games.
The scammers tell them that the alleged rewards increase as the victim stores more money in this wallet, said the report.
When victims stop depositing funds, the criminals drain their wallets by enticing them with fake rewards.
Additionally, these scammers will tell the victims they can recover their investment by paying additional taxes or fees, but this is all just a ruse, leaving the victims empty-handed, the report mentioned.
Meanwhile, Over 4,00,000 new malicious files were distributed every day by cybercriminals to attack users in 2022, indicating a 5 per cent growth compared to 2021, a new report has said.
According to cybersecurity firm Kaspersky, in 2021, approximately 3,80,000 of these files were detected daily, while in 2022, Kaspersky's systems detected approximately 122 million malicious files, up 6 million from the previous year.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Fraud Alert: Scammers Using Landlines, IVR To Dupe People; TRAI Remains Aloof
Yogesh Sapkale, 11 March 2023
Technology is a double-edged sword; unless the user has good intentions, it can end up in a blood bath—not necessarily in terms of physical harm, but it could decimate one's finances and cause immense mental trauma. All of us have...
Indian Spinal Injuries Centre Asked To Pay Rs15 lakh Compensation to Family of Deceased
Moneylife Digital Team 11 March 2023
The national consumer dispute redressal commission (NCDRC) has ordered Indian Spinal Injuries Centre to pay a compensation of Rs15 lakh to the family of one Ajay Kumar Gautham. The medical negligence of the New Delhi-based hospital...
Claim Rejected but Oriental Insurance Asked To Pay Rs1 Lakh Compensation for Its 'Dilatory and Harassing Attitude'
Moneylife Digital Team 10 March 2023
While rejecting an insurance claim, the national consumer disputes redressal commission (NCDRC) directed Oriental Insurance Co Ltd to pay Rs1 lakh to compensate the complainant for the insurer's dilatory and harassing attitude...
Jaiprakash Associates Asked To Refund Rs41.75 Lakh With 9% Interest to a Homebuyer
Moneylife Digital Team 09 March 2023
National consumer dispute redressal commission(NCDRC) has ordered Noida-based Jaiprakash Associates Ltd to refund the amount of Rs41.75 lakh to a homebuyer along with an interest of 9% for failing to deliver the flat on time. The...
Free Helpline
Legal Credit