Business
CryptoRom scammers now using ChatGPT to defraud iPhone and Android users – Report
A cybersecurity firm, Sophos, has revealed that CryptoRom fraudsters refining their techniques by adding AI chat tools such as ChatGPT to their toolset to defraud iPhone and Android users.
Sophos in its latest report titled “Sha Zhu Pan Scam Uses AI Chat Tool to Target iPhone and Android Users” said the scammers also expanded their coercion tactics by telling victims their crypto accounts were hacked and more upfront money is needed.
According to the report, since May, Sophos X-Ops has discovered that scammers were able to sneak seven new fake cryptocurrency investment apps into the official Apple App and Google Play stores, upping the potential for victims.
It noted that in 2022, investment fraud caused the highest losses of any scam reported by the public to the US FBI’s Internet Crimes Complaint Center (IC3), totalling US$3.31 billion in the US alone.
Frauds involving cryptocurrency, including pig butchering, represented most of these scams, increasing 183% from 2021 to US$2.57 billion in reported losses last year.
OpenAI’s ChatGPT as a tool
Speaking on the company’s findings, principal threat researcher at Sophos Sean Gallagher, said:
- “Since OpenAI announced the release of ChatGPT, there has been broad speculation that cybercriminals may use the program for their own malicious activities. We can now say that, at least in the case of pig butchering scams, this is, in fact, happening.
- “One of the main challenges for fraudsters with CryptoRom scams is carrying out convincing, sustained conversations of a romantic nature with targets; these conversations are mostly written by ‘keyboarders,’ who are primarily based out of Asia and have a language barrier.
- “Using something like ChatGPT can be a more efficient and effective way to keep these conversations going, making the scams less labour intensive and more authentic. It also enables keyboarders to simultaneously engage with multiple victims at one time.”
He said Sophos X-Ops also uncovered a new scammer tactic designed to extort additional money.
- “Traditionally, when victims of CryptoRom scams attempt to cash in on their “profits,” fraudsters will tell them they need to pay a 20% tax on their funds before completing any withdrawals.
- “However, a recent victim revealed that after paying the “tax” to withdraw money, the fraudsters said the funds had been “hacked” and they would need another 20% deposit before receiving the funds,” he said.
He added that upon further investigation, Sophos X-Ops found seven fake cryptocurrency investment apps in the official Google Play and Apple App stores.
These apps have seemingly benign descriptions in the app stores (BerryX, for example, claims to be reading-related). However, as soon as users open the app, they are met with a fake crypto-trading interface.
- “Prior to being able to get their apps into the Apple Store, CryptoRom fraudsters had to use an awkward technical workaround to target iOS users, which could alert their victims that something was amiss. Now, it’s much easier for them to target iPhone users, expanding their victim pool.
- “These apps are also easy to recycle and reuse. In fact, the BerryX app appears related to the fake apps we discovered and blocked earlier this year.
- “While we’ve alerted Google and Apple to these latest apps, it’s likely more will pop up. These fraudsters are ruthless.
- “Today, they’re telling victims their accounts have been hacked to extort more money, but in the future, they’re likely to think of new methods of initial and double extortion,” Gallagher said.
According to Sophos, the best defense against pig butchering is awareness of these campaigns.
The company, therefore, advised users who are suspicious or think they may have been a victim to reach out to their security solutions provider.
Business
Allegation of missing fund untrue, says Access Bank
Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.
The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.
“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.
“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.
“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.
“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.
“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.
“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.
“We remain committed to serving our customers.”
Business
31 electricity towers affected as vandals destroy transmission lines in Edo communities
The Transmission Company of Nigeria (TCN) says vandals in Benin, Edo state, have destroyed 31 transmission towers.
In a statement on Friday, Ndidi Mbah, TCN’s director of public affairs, confirmed that vandals attacked transmission towers in Okada and Ofosu communities along the 330kV Benin-Egbin and Benin-Omotosho transmission lines.
Mbah said the vandalised towers, which suffered significant damage with critical components removed earlier in November, were discovered by TCN linesmen during a routine patrol.
“A total of 31 towers were affected in this incident,” she said.
“TCN engineers from the Benin Sub-Region have initiated repairs to prevent the collapse of the affected towers and to avoid disruption of bulk power supply.”
‘AHOADA-YENAGOA LINE UNDER REPAIR TARGETED BY VANDALS’
Mbah also said its Ahoada-Yenagoa 132kV line, which was under repair following a previous attack, was once again targeted by vandals.
The TCN spokesperson confirmed that the attack, which occurred on November 19, affected towers 29 to 31 and resulted in the theft of approximately one-third of the conductor.
On August 14, TCN announced that Bayelsa state would face a prolonged power outage following the destruction of 13 transmission towers along the Ahoada-Yenagoa 132kV double circuit transmission line by vandals.
The transmission company, on October 29, reported that 65 percent of the damaged transmission towers had been repaired.
The company said 17 transmission towers had been successfully erected, with work continuing on the remaining three.
“A team of TCN engineers, led by Engr. Emmanuel Akpa, General Manager of the Port Harcourt Region, has conducted an inspection of the site,” the statement reads.
“Preliminary findings indicate that the incident occurred at night. In an attempt to prevent further theft while repair arrangements are being made, local security has been engaged at Ula Ikata in Ahoada East LGA to secure the site until repairs are completed.
“Additionally, the line will be energized from the Ahoada end as a preventive measure.”
Mbah added that efforts are underway to replace the stolen 250mm conductor.
Despite challenges posed by difficult terrain and flooding, she said the restringing of the Ahoada-Yenagoa 132kV line is approximately 85 percent complete.
The public relations officer stressed that the incidents underscore the urgent need to address the growing problem of vandalism and theft, which continue to affect Nigeria’s power infrastructure.
She urged the public to support efforts to tackle such criminal acts, which have hindered the expansion and stability of the national grid.
Mbah also called on security operatives and local communities to remain vigilant in protecting power infrastructure in their areas as TCN intensifies its efforts to safeguard its installations.
Business
NCAA issues aerodrome certification for Lagos, Abuja international airports
The Nigeria Civil Aviation Authority (NCAA) has issued Aerodrome Certification for Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
This recertification is a significant achievement, highlighting the ongoing improvements in the safety standards of Nigeria’s international airports.
The announcement was conveyed via a post on the official X (formerly Twitter) account of the Federal Airports Authority of Nigeria (FAAN) on Friday.
The Aerodrome Certificates were formally presented to the Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, by the Acting Director General of the NCAA, Capt. Chris Najomo.
“@NigeriaCAA just issued Aerodrome Certification for the Murtala Muhammed International Airport Lagos and the Nnamdi Azikiwe Airport Abuja. The recertification is a major boost and attestation to the continued improvements of the safety standard of our Airports,” the tweet read in part.
The certification confirms that Lagos and Abuja airports adhere to the strict safety, operational, and technical standards of the International Civil Aviation Organization (ICAO). This milestone is anticipated to enhance trust among domestic and international airlines, strengthening Nigeria’s standing in global aviation.
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