According to this report, love scams are one of the leading ways Malaysians are tricked out of handing over their money. After getting them to fall in love via these dating and social media sites, the criminals will persuade them into jointly "investing" in cryptocurrencies, on fake popular trading apps. This feature is used for testing the "beta" version of applications before they are submitted to the App Store for distribution. We also found fake sites that posed as the cryptocurrency mining firm BitFury peddling fake apps through Test Flight. Because the fake apps targets are directed to mimic popular brands, the targets are often convinced that they are transacting with legitimate companies.

Source: The Edge Markets March 30, 2022 22:05 UTC