SAN FRANCISCO —As the boom continues, CU members who have downloaded various apps related to cryptocurrencies could be putting themselves and their data at considerable risk.
According to analysis by RiskIQ, a provider of digital threat management solutions, the world’s top app stores are hosting 661 blacklisted Bitcoin apps. RiskIQ said it analyzed 18,408 apps across 20 app stores - including Apple, Google Play, SameAPK, and APKPlz.
“Monitoring 10 of the popular Bitcoin exchanges in the app title, it found a staggering 661 to be blacklisted by official cybersecurity vendors (3.6% of total) – but still available for download by users,” RiskIQ said. “The top stores guilty of hosting these potentially dangerous apps were Google Play (272), ApkFiles (54) and 9Apps (52).”
RiskIQ said research showed almost 3% of apps with “Bitcoin exchange” in the title were blacklisted, as well as 2.6% using “Bitcoin wallet” and 2.2% listed as “cryptocurrency.”
“Hackers behind the blacklisted apps, which have been blacklisted by one or more cybersecurity vendors, can trick users into handing over large sums of money or personal details for financial gain,” RiskIQ said. “The rise in unofficial and potentially malicious apps across multiple app stores will alarm potential investors looking to buy into Bitcoin.”
Fabian Libeau, EMEA VP of RiskIQ, warned anyone considering downloading such software to be extremely cautious and to research each app.
“We are seeing threat actors around the world exploiting what is already a hostile currency in a lawless digital world,” said Libeau. “Before handing over any cash or personal data, investors should carry out thorough research into the exchange and wallet apps they intend to use. By checking the developer’s name, user reviews and the number of app downloads, investors can measure the validity of an app and be more confident in their choice.”