Over the past few years, there has been an increased use of dating apps. With everything going in today’s world and our everyday lives, these apps have become easy and convenient for many users. In July, we saw a record-high number of Americans using dating apps like Bumble and Tinder, reaching 15 million users. It is crucial to question these sites because there are still many common threats on these apps. We have seen several scams on these apps like Grindr, Tinder, Facebook Dating, Bumble and many others. The latest scams go beyond stealing personal data, they are targeting users utilizing a fake cryptocurrency trading app resulting in users losing up to $1.4 Million in Bitcoin.
This new scam exploits the increased interest in trading apps and their potential fueled by recent Gamestop stories. Since this scam impersonates well-known trading apps from all over, these scams seem believed, resulting in people falling for them. The scam uses real domains and icons to make them look legitimate and professional. Some even utilize fake customer support agents to direct users to correct products. This is until one day, all contact will stop, and the victims will be locked out of their account.
How Does This Scam Work?
Scams have been occurring on dating apps for a long time now, but the latest disguises are so clever, scammers are stealing money in Bitcoin utilizing fake crypto trading apps. Cryptocurrency has increased in popularity over the years which has resulted in scammers stealing millions of dollars from users on dating apps.
It starts by meeting on a dating app and gaining the trust of the user. Once comfortable, they will ask to move to another messaging app like WhatsApp to avoid requests for in-person confrontation. Then, the scammer will ask for interest in trading or use of any trading apps. They will share an app they have been using, which could be fake. Frequently, the scammer will ask the user to transfer money through the Binance app.
Although the application may look real and have legitimate domains, the app you installed and invested in may be a fake account controlled by the scammer. It may look like you are making profits, and sometimes to gain your trust, the scammer will let you withdraw some earnings as a trick. They will suggest investing in a fake virtual currency with a high-profit margin and investing big. However, once the victim questions the scammer, they will lock the account and remove money in the account.
In some cases, the victims were lured to a website that looked legitimate. “These websites forward victims to third-party sites that deliver iOS mobile applications via configuration management schemes, iOS mobile device management payloads carrying “web clips”, or Android apps, depending on the device used,” said a researcher at Sophos Labs, a cybersecurity firm.
Other Effects of This Scam
Other than taking money from users, some victims have reported the scammers could access their iPhones through enterprise signature. This is a system developed for software developers to test out new iOS applications on iPhone users before submitting them to the app store.
These cybercriminals would gain remote management control over the device within these enterprise signature systems through the fake cryptocurrency exchange apps. Apart from stealing digital currency, these scammers could access all of the personal information stored on your device.
This is why it is crucial always to be aware of what apps have access to specific features of your cell phone. Although these seem like legitimate dating sites, do they make sure to protect their users from these types of scams?
How To Avoid Being Scammed On Dating Apps
- Avoid a match who is overusing the word “love” and whom you have not met yet.
- Do not send money to someone you have matched with unless you have met and trust them.
- Beware if someone you met on the app asks for money for emergencies for hospital, bills, gas, and other things.
- Notice if someone is rushing the conversation to another app like WhatsApp, this could be a key sign.
- Do not discuss information about your Bitcoin wallet or trading, and if you notice anything strange on your accounts, report it to the bank immediately. This includes disclosing any personal information about yourself.
For other dating app safety tips, click here.
Tiffany is a lead writer who has a passion for all of the latest use of technology. Tiffany has been writing and delivering the latest app reviews and news for ClickSearch. She is an unbelievable author and continues to produce must-read content.