Fake trading applications have been discovered on Google Play and Apple’s App Store, targeting users in a global “pig butchering” scam.
Researchers from cybersecurity firm Group-IB identified these fraudulent apps, which have since been removed after accumulating thousands of downloads.
The scam involves misleading victims into believing they are earning high returns on non-existent investments, with fabricated data displayed on the platforms.
Victims are manipulated into depositing funds and are unable to withdraw their supposed profits, which the scammers siphon off.
The apps, categorized under the “UniShadowTrade” malware family, were first detected in May and included names like SBI-INT and Finans Trader6.
Initially disguised as tools for mathematical calculations or financial news aggregators, they redirected users to exclusive fake trading sites.
Scammers often groom victims through dating apps, requesting sensitive documents to enhance the scheme’s legitimacy.
Despite the apps’ removal in June, fraudsters have shifted to phishing websites to continue their operations.
