Pay-to-earn cryptocurrency games on your mobile devices may just be scam, so user be warned. According to the FBI criminals are developing fake apps to steal money from unsuspecting users.
The FBI says these situations usually begin with scammers attempting to build online relationships with their intended target. Then, after a bond has formed, the criminal recommends a gaming app where their target can “purportedly earn cryptocurrency rewards in exchange for some activity, such as growing ‘crops’ on an animated farm,” according to the Bureau.
Criminals will also push victims to build cryptocurrency wallets to keep adding to as to ensure more rewards in the game. However, once money stops being distributed, the FBI states this is when the scammers empty their digital wallets due to malicious programs tied to the app. Criminals have even told victims they could get their funds back by paying a fake fee.
The FBI provided the following three tips if you are, or plan on, crypto gaming:
- Create a unique wallet to use. This isolates your primary cryptocurrency holdings should you unknowingly grant illicit actors access to your gaming wallet.
- Use a third-party blockchain explorer to independently check the balances of the addresses in your gaming wallet.
- Periodically use a third-party token allowance checker to help you see which sites or apps you have inadvertently permitted to access funds in your wallet and revoke those permissions.