"AI-Powered CryptoRom Scam Targets Mobile Users"

According to security researchers at Sophos, CryptoRom, a notorious scam that combines fake cryptocurrency trading and romance scams, has taken a new twist by utilizing generative artificial intelligence (AI) chat tools to lure and interact with victims.  The researchers noted that CryptoRom scams typically begin by contacting potential targets through dating apps or social media platforms.  Once the conversation moves to private messaging apps like WhatsApp or Telegram, the scammers introduce the idea of trading cryptocurrencies and offer to guide the targets through installing and funding a fake crypto-trading app.  The researchers stated that what makes this new development particularly concerning is the use of generative AI tools like ChatGPT or Google Bard to assist scammers in creating more convincing conversations with targets.  This makes the interactions more persuasive and reduces the workload for the scammers when dealing with multiple victims.  Moreover, the researchers noted that recent cases revealed that scammers are not stopping at the initial “tax” payment but are coming up with additional excuses to extract even more money from victims.  The researchers noted that the scammers have also slipped their fraudulent apps past both Apple’s and Google’s app store reviews by modifying the app’s content after approval.  By changing a pointer in remote code, the benign app can be switched to a fraudulent one without further scrutiny.  The researchers warned individuals who believe they may have fallen victim to these scams to report the incident to local authorities experienced in dealing with fraud cases.  Victims are also advised to contact their banks to see if any transactions can be reversed and report the wallet addresses of the fraud to the relevant cryptocurrency exchange.

Infosecurity reports: "AI-Powered CryptoRom Scam Targets Mobile Users"