Is your crypto wallet safe? Google Play scammers strike again

Written by Gode S.,

Web3 Market Analyst

Last Updated: September 30, 2024

GM. Daily Squeeze here – think of us as your crypto fruit dryer, preserving essential market news for easy snacking.

📱 Wallet drainers are now targeting mobile users, too.

🍊 News drops: CZ speaks out for the first time since his release from prison, California Governor vetoes an AI safety bill + more

🍍 Market flavour today

Find out more about the Fear & Greed Index here.

Name	Price	24H %	7D %
Crypto Market Cap $2.35 Trillion -3.8% (24H)
Bitcoin BTC	$63,749.63	-2.70%	0.48%
Ethereum ETH	$2,613.65	-1.25%	-1.66%
BNB BNB	$574.73	-3.43%	-3.42%
Solana SOL	$156.31	-0.16%	8.48%

Prices as of 10:25 AM EST. Click here to see live data.

The crypto market's taking a breather today, folks! After flirting with $66,000 over the weekend, Bitcoin's doing a little cha-cha around the $64,000 mark. Don't panic, though - this pullback was expected, and the overall mood is still pretty upbeat. The Fear and Greed Index, holding steady at 61 in the "Greed" zone, reflects this optimism.

The Coinbase app is climbing the popularity charts faster than a rocket. That's usually a good sign that more folks are getting curious about crypto. Interestingly, Google searches for "bitcoin" have dipped a bit lately, although it could be a sign that Bitcoin has become so mainstream many people already know what it is. Here's a juicy tidbit: Bitcoin ETF investors went on a shopping spree last week, pouring in a whopping $1.1 billion! That's nearly triple the previous week's inflow. Even Ethereum ETFs are getting some love, with $86 million in new investments.

In the world of crypto, today's dip could be tomorrow's rally. Stay informed, trust your research, and remember - in this digital gold rush, patience often pays off 💎🧠

📱 Oops!.. I scammed you again

Researchers at Check Point just busted the first-ever wallet drainer targeting specifically mobile device users.

Let's break it down. There was this app on Google Play called Mestox Calculator that slipped past security checks because its official URL led to a legit calculator website. Over time, the app's name kept changing, but the sneaky URL made it seem harmless.

The latest change this app made was rebranding as WalletConnect—a real tool used to connect crypto wallets to dApps. The thing is, WalletConnect is really a protocol, not an app… but someone new to crypto might be unaware of that. This + the fact that the app had tons of fake 5-star reviews that pushed it to the top of Google Play search results = over 10K downloads.

Once installed, the app sent users to a system running malware called MS Drainer. It then tricked users into connecting their crypto wallets, and just like that, the scammers got full access to their funds. So this wasn't your average hack—no permissions needed, no keyloggers. Just sneaky smart contracts and deep links silently draining wallets.

Even though Google Play has since removed the app, the damage is already done—over $70K stolen in five months.

Moral of the story? Scammers are getting better at their craft, and even big platforms can host sketchy apps. Always double-check, do your research, and keep yo' money safe!

📰 News drops

💰 FTX is setting aside $230M for shareholders, sparking outrage among creditors who feel left out. The fund comes from assets seized by the government.

🥭 Mango DAO has settled with the SEC, agreeing to destroy its MNGO tokens, stop all trading of them, and pay $700K. These tokens are central to Mango's governance, and the big question now is how the project will function once they're gone.

👎 California Governor Gavin Newsom has vetoed Senate Bill 1047 (SB 1047). While the bill was pitched as a groundbreaking step toward regulating AI, Newsom worried it could slow down California's tech growth.

🧘‍♂️ Binance founder Changpeng Zhao spoke about his future plans for the first time since getting out of prison. For now, he said he needs some time to "chill," but looking forward, he'll focus on educational projects, invest in blockchain and decentralized tech, support charity, and work on his book.

🏦 ZA Bank, the biggest virtual bank in Hong Kong, has become the first digital-only bank to get the green light from the Securities and Futures Commission (SFC) for Type 1 regulated activity. With this approval, ZA Bank can now dive into crypto trading.