When we write about Freewallet stealing customers’ money, we often get asked how scammers do it. Why do people trust this app with their savings? The answer is very simple. They do everything to appear as a reliable and reputable service. The other day another warning appeared on the Freewallet blog: scammers use Replay Attacks to steal crypto assets.
A replay attack is a method used by cybercriminals to impersonate a legitimate network user and carry out fraudulent activity. In this type of attack, a malicious actor intercepts a message (which may be encrypted) and re-transmits it to a receiver to bypass authentication checks or perform other malicious activities on the network on behalf of the valid user. To the system, the malicious actor appears indistinguishable from authentic users because they replay valid messages sent by those users.
Such publications are not uncommon on the Freewallet blog. Do you know why they are made? That’s right. In this way, the company creates an illusion, the image of an “experienced and reliable advisor.” Everything is done so that newcomers, reading such warnings, immediately think “this wallet is probably protected from such actions. I should store cryptocurrency on it.”
No. It’s just a way to lure new victims!
In February 2024, we launched a new multicurrency secure Web3 wallet app, a self-custody wallet developed by Freewallet. This wallet prioritizes user security by storing private keys directly on your device, eliminating the risk of data being stolen or misused on our end. We employ robust encryption protocols to protect the communication between you and Freewallet, making it significantly harder for malicious actors to carry out replay attacks.
It’s a lie!
Freewallet is a total scam!
The use KYC fraud as a method to steal your assets. If you dont want to lose coins, never try Freewallet!