Hackers bet on beta apps to beat apps stores’ security checks

The Federal Bureau of Investigation published a new advisory that warns users about a new cybercriminal strategy that leverages beta apps. Based on reports, threat actors use beta versions of crypto investment applications on well-known app stores to steal cryptocurrency funds.

Recent investigations revealed that threat actors submit their compromised apps to mobile app stores as betas, meaning they are in the developmental stage that aims for patrons or enthusiasts to test and pass feedback to developers before their official release.

The actors use such a strategy to exploit the standard given by security checks on app stores since these stores do not provide similar review standards to beta applications. Hence, the code review for apps in the beta version does not experience the scrutinising process that the official applications go through before becoming available on app stores.

 

The beta apps commonly impersonate crypto investment apps.

 

The federal agency’s advisory stated that most beta apps are crypto investment or digital asset management tools. The hackers that develop the apps include features that prompt users to enter legitimate account details, invest money, and more.

Threat actors use social engineering tactics, phishing, or romance scams to redirect potential victims. A research company claimed that they first discovered this scam last year after warning about scammers that exploit Apple’s TestFlight system. This platform aids developers in distributing beta apps for testing iOS.

The same researcher also investigates a malicious app campaign dubbed CryptoRom. The new movement also mimics cryptocurrency investment scam applications. The hackers still utilise the Apple TestFlight system to promote the malicious app. These threat actors initially uploaded a seemingly legitimate app to the iOS app store to use Test Flight and infect users.

However, the threat actors change the URL the app utilises after the platform approves. The technique allowed the actors to redirect users to a malicious server that introduced sketchy behaviour into the app.

The FBI urges users always to confirm the app’s legitimacy and review its publisher by reading reviews and if it is reputable. Lastly, experts suggest that crypto app enthusiasts should refrain from apps with high download counts with few or no reviews since most of these could be malicious.