Pig-butchering scams are once again pooling all over the Google Play Store and Apple App Store. The people behind this tactic are reportedly luring the victims into thinking they could earn money from downloading the apps.
The term "pig butchering" means that scammers will slowly build the trust of their victims before completely wiping out all of their earnings.
These bogus applications are here to deceive more people willing to invest their money in a fake scheme.
Pig Butchering Apps on Google, Apple App Store
Whenever you encounter an unknown person online, chances are some of us tend to avoid them. Because they are strangers, our instinct is to never entertain them, even for just a simple chitchat.
However, some people tend to fall victim to these scammers who promise them a huge earning in exchange for depositing an initial payment for an app.
When a user withdraws an earning, a scammer can seal their account and propose another deal. Because an account is no longer accessible even when the deposit is made, no profit is expected to be released.
At this part, a scammer will think of potential reasons to encourage the victim to send more dollars. According to Ars Technica, this is where the pig butchering scam begins.
Beware of CryptoRom and Other Suspicious Apps
One of the most popular scam apps in Google and Apple App Stores is CryptoRom. You might have already encountered this trading app the last time you browsed the platform, especially when you are looking for a loaning or crypto app.
According to Sophos, this app is focused on luring the victims into finding their ideal partner through a dating app.
Unfortunately, the reason why this app exists in the first place is that it manages to bypass the App Store's security review process.
The cybersecurity experts discovered that the victims are instructed to continue the conversation on WhatsApp, which serves as a channel for the scam.
From here, the criminals will now start their gimmick by fooling the victim through too-good-to-be-true stories. This makes them more trustworthy in the eyes of strangers who have no idea what's really happening.
By the time the victim begins earning huge amounts of crypto in dollars, the scammer will pay a 20% extra fee to unlock the account. This way, they could no longer access the cryptocurrency unless they paid.
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Avoid This Crypto Tracker App
Aside from CryptoRom, the second app you should avoid on Google Play Store and App Store is MBM_BitScan. It is described as a "legit" app for tracking your crypto progress.
According to Sophos, one person who downloaded the app said it was too late before he realized that he had already invested $4,000.
"If criminals can get past these checks, they have the potential to reach millions of devices. This is what makes it more dangerous for CryptoRom victims, as most of those targets are more likely to trust the source if it comes from the official Apple App Store," Sophos wrote in its post.
