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- Crypto Rom, an international digital currency scam ring, has grown exponentially over the last year.
- iPhone and Android users are illusioned into thinking that someone is interested in them after meeting on dating sites like Tinder.
- According to Cybersecurity ring Sophos, Crypto Rom is most active in the United States, Asia, and Europe.
An international digital currency scam ring, Crypto Rom appears to have grown heavily in the span of last year. Both iPhone and Android users are believed to think that someone is interested in them after meeting on social media apps and dating sites such as Tinder. Then, they are led into giving the scammer a digital asset.
The United States, Europe, and Asia are the countries where Crypto Rom is most active, according to Cybersecurity ring Sophos. In a major step, the organization misdirects users to download fake currency apps that would lead all the digital assets in the users’ accounts to the scammers’ accounts. The organization does this by influencing the features offered by Apple’s Enterprise Signature platform.
Currently, Sophos is connected to victims of Crypto Rom. The members of the team share that they are constantly in talks with them for some time and that the number of victims has reached to some grand levels. Sophos is collecting all the information that analyzes the various threats imposed by Crypto Rom so that the scammers can be permanently brought down.
While many saved themselves from the scammers by reading the reports from the organization, a large number of victims have lost thousands of dollars in personal savings. Among the cases are some in which victims have lost their entire savings and in the hope to get their money back, they have taken out loans, the security firm explained in a statement.
Crypto Rom is attracting new victims using cold-calling methods on Whatsapp, the popular messaging app by Facebook, according to new research.
The researchers further said that to further allure the target, the scammers offer to lend the victim a large sum to expand the investment. As they have full control on the backend of the app, they add fake deposits into the accounts and display imaginary profits from time to time.
Once the victim pays more, the attackers jump in and discontinue all the withdrawal to ensure that the users do not have access to funds anymore. Then the victims are left with only one option, and that is to pay a tax of around 20% to the fake customer service team of the app.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
