CySecurity News – Latest Information Security and Hacking Incidents
Cybersecurity researchers have unearthed a new methodology employed by fraudsters to target iPhone and Android users by tricking them into installing malware via dubious apps and use it to swipe thousands of dollars.
According to researchers at cybersecurity firm Sophos, a scam campaign dubbed CryptoRom typically begins with social-engineering attack, in which a scammer befriends a victim through dating apps like Tinder, Bumble, or Facebook Dating.
The scammer then moves their conversation to messaging apps such as WhatsApp and asks the victim to install a cryptocurrency trading application that’s designed to mimic popular brands and lock people out of their accounts and freeze their funds. In some cases, victims are forced to pay a “tax” to withdraw their money, which they learn by chatting with an in-app customer service representative who is part of the malicious campaign.
“This style of cyber-fraud, known as sha zhu pan — literally ‘pig butchering plate’ — is a well-organized, syndicated scam operation that uses a combination of often romance-centered social engineering and fraudulent fin
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