The security of cryptocurrency is always a point of concern for the people. Various cases of hacks and security breach have been witnessed in the past, which is alarming for crypto-users. Recently, there was seen some overlap in codes between the two apps on the google store. These apps were identified as “Coin Wallet “and “Trezor Mobile Wallet” as revealed by the analysts and researchers of ESET.
It was hard for the users of Trezor apps to identify that the app was fake, as it requires physical validation on the device; therefore, many users were not affected. As the case came on the spotlight, both apps were removed quickly from the google store. People can no longer use these apps. But, skeptics are holding the opinion that the fake Trezor app can malign the original Trezor users by stealing their personal information.
Coin wallet app can affect the users directly as the app demands direct money from the users. The users not realizing that they are sending money to a scammer. These types of scams are regarded as wallet address scam.
Analysts and researchers around the globe have warned the users of cryptocurrency to be cautious in spending the money. As the crypto-market is expanding and cryptocurrencies are gaining a lot of fame so, similar cases of scam and fraud can be expected in the near future. Also, the users should know the details and authenticity of any app that they install in their mobile and must ensure strict security measures.