Cybersecurity Firm Sophos Reports New Scam On App Store

There are millions of scams taking place online every single year, and there’s not much we can do to stop them. One such example is the newly emerged scam called CryptoRom, which puts App Store users at risk of financial loss. That’s why you should be using an iOS VPN at all times and double-checking apps before making any commitments.

Newest App Store Scam to Watch Out For

A cybersecurity company called Sophos recently announced that a new app store scam has emerged and that users should be aware of its existence. Namely, scammers are now reaching out to people via dating sites to lure them into downloading fake crypto trading apps. Sounds harmless? Well, this scam is far from that. 

As reported by Sophos, the CryptoRom scammers (as they are called) typically contact victims via dating platforms such as Bumble, Tinder, and Grindr. They skillfully move the conversation to messaging apps to further get to know their victims. Once they establish a closer connection, the scammers then convince the victim to install a legitimate-looking trading app that is, in reality, totally fake. 

As the conversation shifts to investing, they end up encouraging the victim to invest a small amount of money using the fake app. They even go so far as to let the victim withdraw some profits as bait. All of this makes the story sound plausible, which plays in the scammer’s favor. Eventually, they convince the victims to participate in “special” trading events and put more money on the line.

Once the victims get suspicious and start asking for their money back, they are locked out of their accounts. You already know what happens with their new “friend” – they just disappear. The reason why iPhone users are at high risk of being targeted by CryptoRom scammers is that the bad guys usually assume that iOS users “tend to have more money,” as Sophos puts it. 

“In our initial research, we found that the criminals behind these apps were targeting iOS users using Apple’s ad hoc distribution method, through a distribution operation known as the ‘Super Signature service.’ As we expanded our search based on user-provided data and additional threat hunting, we also saw malicious apps linked to this scam on iOS exploit configuration profiles that abuse Apple’s Enterprise Signature distribution scheme to target victims.”

Sophos

How to Secure Your iPhone  

The CryptoRom scam has already brought the bad guys millions of dollars in earnings, which is reason enough to be concerned. Here are a few tips on securing your iPhone and making sure you don’t become one of the CryptoRom victims.

1. Be Careful with New Apps

Always double-check applications before downloading them from the App Store, let alone using them to make financial transactions. Although the App Store should be a safe place for iOS users, you can never be 100% sure whether certain apps are safe to use. Therefore, make sure to look up online reviews and check the app’s credibility before making any commitments. 

Scammers often lure their victims to unknowingly send them their data by clicking on fake links that have been tampered with. Be on the lookout for suspicious links or material that people send you for no apparent reason. If you receive links or files from unknown addresses or people, don’t ever click or interact with them. 

3. Beware of Scams – Don’t Trust People on the Internet

As much as we would all like the internet to be a safe place, we won’t get there any time soon. Making friends online has become a popular trend, but it comes with many risks. Try not to trust people on the internet so much and always look for ways to verify the information you receive. 

4. Use a VPN for iPhone

Last but not least, make it a habit to practice general cybersecurity measures such as using a VPN for iPhone devices. This will keep your smartphone and data protected when browsing the internet, both on private and public networks. Besides, there are other perks to using an iOS VPN besides security (look up geo-restrictions and how to unlock content using a VPN).

Better Safe Than Sorry

Overall, fighting against scammers is getting more and more difficult as each year passes by. The more defense mechanisms we create, the more ways they create to exploit our tools and software. However, one thing you can do is protect your personal devices and make sure to keep both eyes open when communicating with people (especially strangers) on the internet. 


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