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Scam Alert: Sophos Research Reveals How CryptoRom iPhone Scam Rake in Over $1.4m
Sophos, a global leader in next-generation cybersecurity, has released new insight on an international cryptocurrency trading scam targeting iPhone users through popular dating apps, such as Bumble and Tinder.
A report detailing the latest findings, “CryptoRom Fake iOS Cryptocurrency Apps Hit US, European Victims For At Least $1.4 Million,”shows that the operation has escalated.
The attackers have expanded from targeting people in Asia to include people in the U.S. and Europe.
Sophos has uncovered a Bitcoin wallet controlled by the attackers that contains nearly $1.4 million in cryptocurrency, allegedly collected from victims.
Sophos researchers have code-named the threat “CryptoRom.”
“The CryptoRom scam relies heavily on social engineering at almost every stage,” said Jagadeesh Chandraiah, senior threat researcher at Sophos. “First, the attackers post convincing fake profiles on legitimate dating sites.
“Once they’ve made contact with a target, the attackers suggest continuing the conversation on a messaging platform. They then try to persuade the target to install and invest in a fake cryptocurrency trading app.
“At first, the returns look very good but if the victim asks for their money back or tries to access the funds, they are refused and the money is lost.
“ Our research shows that the attackers are making millions of dollars with this scam.”
Double Trouble
In addition to stealing money, the attackers can also gain access to victims’ iPhones, according to Sophos’ research. In this version of the attack, cybercriminals leverage “Enterprise Signature,” a system for software developers that helps organizations to pre-test new iOS applications with selected iPhone users before they submit them to the official Apple App Store for review and approval.
With the functionality of the Enterprise Signature system, attackers can target larger groups of iPhone users with their fake crypto-trading apps and gain remote management control over their devices.
This means the attackers could potentially do more than just steal cryptocurrency investments from victims. They could also, for instance, collect personal data, add and remove accounts, and install and manage apps for other malicious purposes.
“Until recently, the criminal operators mainly distributed the fake crypto apps through fake websites that resemble a trusted bank or the Apple App Store,” said Chandraiah.
“The addition of the iOS enterprise developer system introduces further risk for victims because they could be handing the attackers the rights to their device and the ability to steal their personal data.
“To avoid falling victim to these types of scams, iPhone users should only install apps from Apple’s App Store.
“The golden rule is that if something seems risky or too good to be true – such as someone you barely know telling you about some ‘great’ online investment scheme that will deliver a big profit – then sadly, it probably is.”
Sophos recommends that users install a security solution on their mobile devices, such as Intercept X for Mobile, to protect iOS and Android devices from cyberthreats.
It is also worth securing all home and personal computers with additional protection such as Sophos Home.
Further information on the fake cryptocurrency trading apps targeting iPhones as well as other mobile threats reported on by Sophos is available at SophosLabs Uncut.
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SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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