1 million lost to crypto scam in Silicon Valley | Crypto

1 million lost to crypto scam in Silicon Valley

– A new cryptocurrency scam has been detected in the Bay Area, United States, targeting Silicon Valley investors.
– The crypto scam, dubbed ‘Pig Butchering’, infects the victim’s phone through interactions on dating apps or social media platforms.
– The scammers send victims a link to what mirrors a legitimate crypto trading app or platform. However, after downloading the application, the scammers access their victims’ devices.
– The scale of the scam is not yet known at the moment, but once the target’s phone is infected, the malware can access the victim’s data.
– Investigators note that the scam has manifested as counterfeit malicious apps that grant access to personal information.
– Users are encouraged to avoid downloading apps from links sent through WhatsApp and text messages but only focus on official platforms like App Store and Google Play.

https://finbold.com/app/uploads/2022/08/Silicon-Valley-tech-workers-lose-2.5-million-to-crypto-scam.jpeg

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