Crypto Wallet Trezor Warns Of Fake App

Trezor, a cryptocurrency wallet hardware provider, warned users Monday (Jan. 18) of a “malicious” fake Trezor app on the Google Play store, Cointelegraph reported.

According to Cointelegraph, the fraudulent app is still available for installation and had been downloaded over 1,000 times.

In other news, the Dubai Financial Services Authority (DFSA) is planning to develop a regulatory framework for digital assets.

“The DFSA is committed to remain ‘open for business’ with respect to innovation in the financial services sector and we continue to explore how our regulatory regime can accommodate new and innovative business models,” the DFSA said in its 2021-2022 Business Plan.

In the business plan, the DFSA noted the framework must support the nation’s digital transformation, while improving its “cyber-resilience.”

“We intend to take a regulatory approach that facilitates innovation while requiring strict adherence to the DFSA’s licensing, prudential and conduct requirements,” the DFSA said in the plan.

Meanwhile, India’s CoinDCX launched a new mobile app, CoinDCX Go, Tuesday (Jan. 19), to provide a “quick check-in check-out trading experience,” for newcomers, CoinDesk reported.

According to a survey run by CoinDCX, nearly 60 percent of Indians find cryptocurrency investing “extremely challenging,” the report stated. CoinDCX, the largest crypto exchange in India, seeks to change that.

“The focus is to make users see merits in the industry by attention to details,” said CoinDCX CEO Sumit Gupta, according to CoinDesk.

CoinDCX Go users will be able to trade small amounts of 14 of the largest digital coins, including bitcoin, ether and binance coin, according to CoinDesk. The app comes without deposit and withdrawal fees.

Crypto custodian BitGo will ensure users’ funds, and the app will be protected by anti-money laundering (AML), artificial intelligence (AI) algorithms, CoinDesk reported. The exchange sees potential in the app to attract 50 million new users.

Lastly, a gang of men stole $448,700 in cash from a cryptocurrency trader in Hong Kong Monday (Jan. 18), the South China Morning Post reported.

The trader had sold digital currency to one of the men in three separate transactions, according to the report. Believing he was interested in another transaction, she transferred $448,700 in digital money to his online wallet in exchange for the equivalent in cash. Three men with knives then reportedly rushed into the room and stole the cash and her iPhone.

A similar robbery took place on Jan. 4, according to the publication, when a man was paid for transferring 15 bitcoins to someone posing as a buyer, but then immediately had the cash stolen back from him.



About: The January 2021, Retail Banking Services’ Paradigm Shift Report, PYMNTS examines how consumers choose to engage with their FIs when accessing information about various products and services, especially since the pandemic’s onset.

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