As the cryptocurrency sector expands, its participants are increasingly becoming a target for scammers who now seem to have resorted to using Malaysia’s largest mobile network provider to try and scam people off their Bitcoin (BTC).
Specifically, users of the app by Tune Talk, the largest mobile prepaid mobile virtual network operator (MVNO) in Malaysia, have been receiving push notifications offering them to double their Bitcoin investments, as some of them reported on August 19.
As Malaysian technology news portal TechNave reported, this scam is also trending on Twitter, users are warning each other of a possible hack in the official app and ignoring the message unless they want to go bankrupt.
The affected users have posted screenshots of the suspicious alerts on both platforms that claim they have won some sort of a contest and therefore are eligible for doubling their Bitcoin, as long as they click on the notification and send their Bitcoin to an e-wallet.
Tune Talk reactions to the scam
Speaking with the Malaysian news outlet The Star, Tune Talk’s chief operating officer Nantha Arumugam, said that:
“We are aware that the latest app notification may have been compromised. Our team is currently investigating the root cause and we will update our subscribers as soon as possible.”
Furthermore, the app’s creators also immediately reacted on its website, acknowledging the issue, assuring the users that only its push app notification system was compromised, and guaranteeing that they were on top of it.
As the website stated:
“If you’ve received a Bitcoin message from us, do not panic and kindly ignore it. Only our push app notification was compromised and our team is investigating the issue. Rest assured, your personal details are safe with us.”
The same sentiment was expressed on the app’s Twitter page as well.
Meanwhile, crypto-related cybersecurity incidents are nothing new to the industry, as crypto hackers have looted $2 billion in the first half of 2022, managing to successfully pull off 175 crypto project hacks, as Finbold reported in early July.