Exposed: The Ingenious Skype App Scam Draining Crypto Wallets in China

A deceptive plot designed to hijack cryptocurrency wallets

The recent phishing scam uncovered by the crypto security analytics firm SlowMist has shed light on the evolving nature of cyber threats, particularly in the realm of cryptocurrency. This scam, which involved a counterfeit Skype application, targeted users in China, exploiting the country’s restrictions on international applications. The scammers developed a fake version of the Skype video app, taking advantage of users’ reliance on third-party platforms to access banned applications like Telegram, WhatsApp, and Skype. This strategic choice of a familiar and widely-used app like Skype showcases the cunning and calculated nature of these cybercriminals.

The fake Skype app, meticulously cloned to resemble the original, contained several subtle discrepancies. The version number was different from the official one, and the app signature was altered, indicating malware insertion. SlowMist found that the app used a modified version of the widely-used Android network framework, “okhttp3,” which was altered to access various data types from the user’s device, including images, user IDs, and phone numbers. This data was especially targeted at information related to cryptocurrency wallets.

The scam’s operational method was sophisticated. After unsuspecting users downloaded and granted the fake app access to internal files and images, it actively gathered data and monitored for keywords related to cryptocurrency wallet transfers. When such transfers were detected, the app automatically replaced the destination address with one controlled by the hackers. This method allowed the criminals to reroute legitimate cryptocurrency transactions to their wallets, leading to substantial financial losses for the victims.

The scope of this phishing scam was significant. SlowMist’s investigation revealed numerous wallet addresses associated with the operation, with transactions amounting to approximately 192,856 USDT on the TRON chain and 7,800 USDT on the ETH chain. In response, SlowMist blacklisted these addresses to prevent further fraudulent activities.

This incident serves as a stark reminder of the persistent dangers in the digital world, particularly for cryptocurrency users. It underscores the importance of vigilance and caution when downloading applications, especially from unofficial sources. The evolution of cybercriminal tactics in the ever-expanding digital landscape necessitates a continuous battle between security experts and cybercriminals. Users are advised to adhere to official download channels and remain alert to protect their digital assets and personal information from such malicious exploits​​​​​​​​​​​​​​.

This is a DAO submission authored by James

This article is an individual contribution from a member of the Secret3 DAO and has been approved through our community voting process. The views and opinions expressed in this article are solely those of the author and do not necessarily mirror the views and policies of the Secret3 platform or the wider DAO community. Secret3 and its DAO community disclaim any responsibility for the accuracy, completeness, or validity of the information contained in this article. Readers are encouraged to exercise discernment and to consider the content as the author’s personal insights and opinions.

EarnTV revolutionizes the video-streaming industry with blockchain-powered platform and token listing

EarnTV revolutionizes the video-streaming industry with blockchain-powered platform and token listing

Paris, 15th November – EarnTV, a groundbreaking video content delivery

How Traditional Web2 Flaws Are Undermining Crypto’s Security

How Traditional Web2 Flaws Are Undermining Crypto’s Security

Revealing how Web2's legacy issues are compromising crypto

You May Also Like