Bithumb Warns of Sophisticated Fake Trading App Scams in Latest Security Campaign

Bithumb has released a guide to help users prevent fake trading app scams as part of its July information security campaign. The exchange designates the second Wednesday of each month as Information Security Day and runs regular information security campaigns for customers and employees.

The guide warns that fake apps have evolved beyond simply copying the names and designs of legitimate applications. Some appear to work normally at first, but then add malicious functions through updates.

Bithumb also introduced representative damage cases where users are persuaded to install fake apps resembling overseas virtual asset or cryptocurrency trading platforms and enter wallet recovery seed phrases, allowing criminals to steal their assets.