Bithumb Issues Warning Against Fake Cryptocurrency Trading Apps, Releases Fraud Prevention Guide

Bithumb announced today (July 13) that it has released a guide to prevent fraud involving fake trading applications as part of its information security campaign for July.

Bithumb warned users to exercise extreme caution, noting that scams involving fake trading apps are on the rise. The company explained that these apps are becoming increasingly sophisticated, often functioning like legitimate applications initially before secretly inserting malicious features through updates.

The company emphasized three key security principles: users should only install apps through the official website, verify that the developer name matches the company name, and be suspicious of fake apps if the application requests permissions unrelated to trading or causes a sudden spike in battery and data usage. Bithumb explained that if a user has already installed or run a fake app, they should immediately disconnect from all networks, including Wi-Fi and mobile data, to prevent further data leakage or remote control of their device.

The company further advised users to take account protection measures, such as changing passwords, resetting two-factor authentication (2FA), and deleting API (Application Programming Interface) keys. If any suspicious transactions are detected, users are advised to contact the Bithumb Investor Protection Center to freeze their accounts.

Bithumb added that depending on the type of damage, victims can seek assistance by reporting hacking or malicious code to the Korea Internet & Security Agency (KISA) 118 Counseling Center, cyber fraud and voice phishing to the National Police Agency, and financial-related scams to the Financial Supervisory Service.

(Photo courtesy of Bithumb, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.