A fake app on Google Play Store has stolen over $70,000 from unsuspecting users, posing as the popular WalletConnect platform, according to a report by Check Point Research. The fraudulent app, initially launched in March under the name “Mestox Calculator,” used deceptive tactics to avoid detection for over five months, targeting users’ cryptocurrency wallets.
Check Point Research revealed that the app tricked more than 150 users into connecting their wallets by employing “advanced evasion techniques.” While it initially passed Google Play’s security checks by appearing as a harmless calculator, once installed, it redirected users to malicious software, known as MS Drainer, designed to steal funds.
The app lured users into linking their crypto wallets by requesting permissions to “verify” them, which unknowingly allowed the attackers to transfer large sums of cryptocurrency to their own accounts. However, only those who linked their wallets were affected, while others remained untouched by the scam.
Despite being downloaded over 10,000 times, the app has since been removed from Google Play. This marks the first instance of a wallet-draining app specifically targeting mobile users, raising significant security concerns for cryptocurrency holders.
“Fake reviews and consistent branding helped the app gain high rankings in search results, leading to its widespread downloads,” said Check Point Research.
This incident underscores the increasing threat of mobile-based scams in the crypto space. Experts urge users to verify the authenticity of apps before connecting their wallets to avoid falling victim to such attacks.
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