Cybercriminals have started developing fake gaming apps on a large scale to steal millions of dollars worth of crypto.
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In a press release, the Federal Bureau of Investigation (FBI) said criminals are targeting players interested in play-to-earn games as these products often offer crypto as a reward currency for in-game activities.
Criminals direct victims to join a specific crypto game app. The more money victims store in that fake game, the more rewards they are told to get. However, when victims try to withdraw their rewards, criminals drain crypto out of their in-game wallets.
"Criminals tell victims they may reclaim funds by paying additional taxes or fees, but victims are unable to get their money back even if they pay the extra fees," the FBI emphasized.
The FBI called on crypto community members to use a third-party blockchain explorer to independently verify their in-game wallets really exist. The agency also suggested creating a unique crypto wallet to isolate risks when linking a crypto wallet with a blockchain-based game.
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