CryptoRom scammers are adopting new tactics to target iPhone and Android users, according to a recent report by cybersecurity firm Sophos. These scammers have added an AI chat tool and developed fake cryptocurrency investment apps, increasing their potential to deceive victims.
Since May, Sophos X-Ops has observed scammers refining their techniques. One significant addition is the use of an AI chat tool, such as ChatGPT, to sustain convincing and romantic conversations with targets. This helps overcome the language barrier often faced by scammers. By using AI chat tools, scammers can engage with multiple victims simultaneously, making their scams more authentic and less labor-intensive.
Additionally, scammers have expanded their coercion tactics. Victims are now told that their crypto accounts have been hacked and more money is required upfront to resolve the issue. This new approach aims to extort additional funds from victims who have already fallen for the initial scam.
Sophos X-Ops also discovered seven new fake cryptocurrency investment apps in the official Apple App Store and Google Play Store. These apps are designed to deceive users by presenting a fake crypto-trading interface. To bypass the Apple App Store review process, the scammers submit legitimate app content for approval and then modify the server hosting the app after it has been published.
These new tactics have been successful for CryptoRom scammers, who are now able to target iPhone users more easily. However, the recycled templates and descriptions used in these fake apps suggest that only a small number of pig butchering rings are behind the schemes.
Investment fraud related to cryptocurrency has resulted in significant financial losses, with the public reporting a total of USD 3.31 billion to the FBI’s Internet Crimes Complaint Center (IC3) in the US in 2022. CryptoRom scams, including pig butchering, accounted for a majority of these scams, representing USD 2.57 billion in reported losses last year.
Sophos urges users to be aware of CryptoRom scams and report any suspicious activity. By staying informed and vigilant, individuals can protect themselves from becoming victims of these malicious schemes.
For more details on the latest tactics used by CryptoRom scammers, refer to the report Sha Zhu Pan Scam Uses AI Chat Tool to Target iPhone and Android Users on Sophos.com.
