The developers of the Leather cryptocurrency wallet are warning of a fake app on the Apple App Store, with users reporting it is a wallet drainer that stole their digital assets.
Wallet drainers are apps or malicious scripts that trick users into entering their secret passphrases or performing malicious transactions allowing attackers to steal all digital assets, including NFTs and cryptocurrency, from users' wallets.
Wallet drainers (aka crypto drainers) have become increasingly common over the past year, with threat actors hacking social media accounts with a lot of followers to promote phishing sites containing malicious sites or taking out ads to drive visitors to sites that trick users into entering their wallets recovery phrase.
The wallet drainer "business" has become so profitable that threat actors have created crypto phishing services, allowing any wannabe threat actor to participate in illegal activity.
Fake Leather app on Apple App Store
Last week, the genuine Leather wallet warned its community about a fake version of its wallet on the Apple App Store, making it clear that the company does not yet offer an iOS app.
The platform advised those who entered their secret passphrase on the fake app to immediately transfer their cryptocurrency to a new wallet. This is because once the passphrase was entered into the phony wallet, it was likely sent to the threat actors, who can use it to drain the wallet of all asset ..
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