FBI warns US investors against fake crypto investment apps

The rise in popularity of mobile banking and crypto investment is being exploited by cybercriminals. The Federal Bureau of Investigation (FBI) has issued a warning to investors and financial institutions concerning the creation of fake crypto investment applications (apps) by cybercriminals with the intention of defrauding crypto investors. As per the FBI report, fake crypto apps have so far scammed an estimated $42.7 million out of US investors.