Don’t trust apps just because they look appear to be brands you’re quite familiar with, because they just might be counterfeit apps. Case in point: British security software Sophos has recently discovered as many as 167 iOS and Android fraudulent apps that pose as legitimate apps for trading and cryptocurrency.

What’s more disturbing is that all these 167 malicious apps are running from a single server, suggesting they are being run by a single group of scammers. Further research by Sophos into the scam has shown that the scammers employ various tools and techniques in duping people into giving away their money.

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These techniques range from social engineering tactics such as wooing users in dating apps to phishing schemes designed to trick people into thinking that they are dealing with legitimate companies. Some of these apps even had fake customer reviews to give a sense of credibility and trustworthiness.

As always, download only from a trusted source like the App Store and Google Play Store.

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