Researchers from ESET, Russian cybersecurity company and anti-virus developer, found the phishing app in Google Play store, called Cardano ADA Wallet. This is reported by official company's blog.
The creators of the application claim that it serves as a wallet for the Cardano (ADA) cryptocurrency, which is currently the seventh largest digital asset in terms of capitalization.
To get started, the application prompts the user to translate the cryptocurrency into the specified wallet address, which was allegedly generated for him personally. In fact, the application always sends out the same address belonging to the scammers.
Phishing App Cardano ADA Wallet
In addition, the application offers its users to enter a wallet address and a passphrase, which, they claim, is a way to restore access to existing desktop wallet. By providing these data, the user is also guaranteed to lose his money.
In addition to accepting transfers in Cardano, the authors of the fraud app offer to "convert" to ADA other cryptocurrencies, including Bitcoin, Litecoin, Dash, Bitcoin Cash, Bitcoin Gold, Dogecoin and Ripple. Their theft is carried out according to a similar scheme.
According to ESET, by now the rogue application from Google Play has been removed.