RiskIQ: Bitcoin apps vulnerable to hacks

According to a new investigation by RiskIQ, the world’s top app stores host 661 blacklisted Bitcoin apps, leaving users open to being hacked.

The cyber security company based in San Fransisco analysed 18,408 apps across app stores from the likes of Apple, Google Play, SameAPK, and APKPlz.

Observing the 10 most popular Bitcoin Exchanges in the app title, it found a staggering 661 blacklisted by cyber security vendors.

Despite this, the apps were still available for users to download.

The top stores who hosted potentially dangerous apps found by RiskIQ were Google Play with 272, ApkFiles with 54 and 9Apps with 52.

‘A lawless digital world’

Fabian Libeau, vice president of RiskIQ, commented: “We are seeing threat actors around the world exploiting what is already a hostile currency in a lawless digital world.

“Before handing over any cash or personal data investors should carry out thorough research into the exchange and wallet apps they intend to use.

“By checking the developer’s name, user reviews and the number of app downloads, investors can measure the validity of an app and be more confident in their choice.”

RiskIQ’s research also found 3% of apps with “Bitcoin exchange” in the title were blacklisted, as well as 2.6% using “Bitcoin wallet” and 2.2% listed as “cryptocurrency”.

Written from press release by Leah Alger