The open web can be a dangerous place for cryptocurrency users. Phishing, trojans, and social engineering all come with the territory, ensuring that even the savviest of bitcoin-holders must remain alert. Within the walled gardens of Apple and Google’s app stores, however, there’s an assumption that if a mobile app has been vetted and downloaded in the thousands, it must be safe. That assumption couldn’t be further from the truth, as scores of users have discovered to their peril.
Neither the Google Play or App Store is immune from its share of fake, spammy, or fraudulent apps. One of the most egregious apps, which has hoodwinked thousands of users, is simply named Poloniex. Despite purporting to be the “Poloniex ® Offical App” [sic] of the popular cryptocurrency exchange, it is nothing of the sort. Its description boasts of such features as “Possible powerfull [sic] exchange BTC or altcoins.”
Judging by the hundreds of disgruntled comments, the “Poloniex ® Offical App” does nothing more than steal users’ account credentials followed by their coins.
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