Trump Crypto Warning—New Coin Offer Is A Dangerous Scam #CriptoNews

The early days of Donald Trump’s second presidency have become synonymous with crypto, as social media posts and government policy speculation have kept prices in a state of flux. It’s too soon to tell whether all this will be good or bad for crypto markets. But the latest Trump crypto warning is much more clearcut. It’s very bad news.

ForbesGoogle Play Store Deletion—Do Not Keep App On Your PhoneBy Bag Doffman

The team at Cofense has just warned that those speculating on Trump-related crypto can come unstuck in just 120 seconds. “An email campaign spoofing Binance claims to deliver an opportunity to claim recently created TRUMP coins.” Users wishing to speculate are instructed to install a “Binance Desktop” app to secure their coins. But instead they install a remote access trojan onto their PCs. Even though the coins are traded for activities rather than cash, you will still lose money.

When the RAT is installed, the software connects to a remote server which enables its handlers to take control of the infected computer. The RAT is tasked with finding and exfiltrating stored passwords and other credentials on the infected PC. Attacks using this ConnectWise RAT usually begin some time after infection. But not this time around. According to Cofense, “the threat actors behind this campaign are eagerly monitoring infections and can connect to infected computers in under 2 minutes.”

The researchers report that “this campaign took several steps to impersonate Binance, such as using ‘Binance’ as the sender’s name and including a ‘risk warning’ in the email, which is more likely to make people trust that it is legitimate.” That said, “they did not directly copy the Binance TRUMP coin page or the Binance client download page,” instead “the threat actors combined images from both into a convincing page.”

Whether or not you wish to speculate on Trump’s meme coin, you certainly don’t want to trade through a cold outreach campaign purporting to be from Binance or anyone else. You should always stick to trusted markets accessed through normal channels.

ForbesGoogle’s Surprising Update Tracks All Your Devices—How To Stop ItBy Bag Doffman

As the FBI warns, “since cryptocurrencies eliminate the need for financial intermediaries to validate and facilitate transactions, criminals can exploit these characteristics to support illicit activity such as thefts, fraud, and money laundering.” If you happen to have bought any of these fake coins, you can report the crime here.