A fake crypto wallet draining app on Google Play has stolen USD 70,000 from users, making it the first case where mobile users were specifically targeted by such a scam. The app stayed active for several months before being discovered, according to a report from Check Point Research. 

The app pretended to be a real crypto wallet service, tricking more than 10,000 users into downloading it. What made the scam effective was its professional appearance, which included consistent branding and fake positive reviews. These tactics helped the app rank high in Google Play’s search results, making it seem trustworthy to people looking for a secure place to store their cryptocurrency. 

Once users installed the app, it was able to quietly drain funds from their wallets without being noticed right away. This case stands out because, up until now, most crypto wallet attacks have focused on desktop or browser-based platforms. This marks a shift, as cybercriminals are now targeting the growing number of people who use mobile platforms for crypto transactions. 

The app’s ability to avoid detection for such a long time shows how advanced cybercriminal tactics have become. It also highlights the need for greater caution among users when downloading apps, even from trusted platforms like Google Play. This scam underscores the importance of stronger security measures for mobile transactions, such as using verified wallets and enabling two-factor authentication. 

It also calls attention to the need for better app screening by platforms like Google Play to prevent such scams from reaching users in the first place. Though the amount stolen may seem small compared to other crypto thefts, this case is significant because it shows how cybercriminals are adapting to target mobile users as cryptocurrency becomes more popular.