FBI Warns of Fake Crypto Apps Spoofing Financial Institutions

What You Need to Know

Financial institutions and their customers who suspect they have been defrauded should contact the FBI via the Internet Crime Complaint Center or their local FBI field office.
Investors should be wary of unsolicited requests to download investment applications, especially from individuals whose identity has not been verified.

The FBI is warning financial institutions and investors about cybercriminals that are creating fraudulent cryptocurrency investment apps.

In a Monday alert, the FBI said that it has identified 244 victims and estimated the approximate loss associated with this activity to be $42.7 million.

In its alert, the FBI encourages financial institutions and their customers who suspect they have been defrauded through fake cryptocurrency investment apps to contact the FBI via the Internet Crime Complaint Center or their local FBI field office.

The FBI has observed cybercriminals using “the names, logos and other identifying information of legitimate USBUSs, including creating fake websites with this information, as part of their ruse to gain investors. Financial institutions should warn their customers about this activity and inform customers as to whether they offer cryptocurrency services.”