Criminals mimic Poloniex in Google Play

Fake Poloniex cryptocurrency trading apps found in Google Store
26 October 2017   775

One of the most popular cryptocurrency exchanges, Poloniex, fells prey to cybercriminals. Thus, due to the Poloniex's lack of an official app, the fraudsters managed to lure users into downloading credential stealing malware.  

ESET security researchers discovered variations of the app in the Google Play store on two separate occasions:

  • “Poloniex”, which was downloaded up to 5,000 times, despite having bad reviews
  • “POLONIEX EXCHANGE” using the developer name “POLONIEX COMPANY”,  was downloaded by up to 500 users

The app managed to harvest Poloniex login credentials as well as to trick victims into making their Gmail accounts accessible to the malicious app allowing them to control notifications to the user about unauthorized logins and transactions. Once exploited, the app attempts to appear functional by redirecting users to the mobile version of the legitimate Poloniex website.

If you're a Poloniex user and have installed any of these malicious apps on your device, start by uninstalling them. Make sure to change both your Poloniex and Gmail passwords and consider enabling 2-factor-authentication for both services.
 

ESET research team

Both Google and Poloniex have been notified of the malicious imposters. In order to prevent similar attacks, the users are recommended to check twice before downloading and using any app, to pay attention to app ratings and reviews, and be cautious of third party apps triggering alerts and windows appearing to be connected to Google.  

Circle to Unveil Poloniex Asset Listing Framework & Form

The criteria for selecting assets are divided into five categories
20 June 2018   194

Circle has published a manual that includes a description of the criteria for valuing assets that appear on the Poloniex cryptoexchange, as well as in the Circle Invest and Circle Trade product lines.

The criteria for selecting assets are divided into five categories: the project base, the underlying token technology, the development team, the business model, and the target market.

One of our primary goals for Circle products like Poloniex, Invest, and Trade is to provide our customers with access to innovative new projects that fuel the industry. Today, we’re very excited to share the new Circle Asset Framework, Asset Listing Form, and some details on how we plan to list new assets as well as handle other common cryptocurrency events.
 

Poloniex Team

Each criterion has a list of potential issues that experts consider during the analysis of the project. As noted in Circle, this structure is not rigid and exhaustive - it is necessary to select those criteria that are really important for Poloniex customers.

Circle also published an application form, which is submitted for placement of assets in the company's projects. The company stressed that it is not going to take money for listing on Poloniex and in its other projects.