Crypto enthusiasts and crypto wallet app users should be aware of the insidious scammers planting fake Trust Wallet apps on app stores and links to them, to scam you of your coins. And this is not the only nefarious means that scammers will try to trick you out of your crypto coins bags. If you’re a Trust Wallet user, or thinking about it, make sure you read on to find out what other Trust Wallet scams are out there and how to stay safe in the wild wild west of crypto.
Trust Wallet is a popular target for scammers as its one of the most popular and versatile apps available to transact your crypto and make money with DeFI. If you want to know more about Trust Wallet, you can check out our full review of what it is and how you can use it to make passive income with DeFi – here.
Our Decryptify blog is all about helping you keep your crypto safe so here is a snapshot of what to watch out for.
Fake Trust Wallet reports online
Fake Trust Wallet apps have been reported on the Trust Wallet community and on Reddit in both 2020 and 2021. Multiple times. While they’re eventually taken down, they keep popping up because they’re obviously successful at scamming new people each time. The thing with a crypto wallet app is you need to set up a seed recovery phase (private keys to your crypto) when you create the wallet. This is the mechanism scammers use to grab your coins once you send them to your wallet. The app records your phrase as you input it and the scammers then use it steal your coins.
Here is what the fake Trust Wallet app looked like. Notice, the name of the developer is the first giveaway.
This is what the REAL Trust Wallet app looks like:
Fake Trust Rewards offers
Scammers have also propagated fake Trust rewards offers like the ones pictured below. You’re enticed in by offers of an Airdrop or other incentive payments and the MO is to get you to click their links. You can spot a scam like this straight away because you are then asked to input your private keys to get access to the rewards. Legitimate projects and developers in crypto will NEVER have a reason to ask you for your private keys, so don’t be tempted by the promise of big rewards or free crypto.
Fake Trust Facebook accounts
Readers should also be aware of Fake Trust Wallet accounts popping up in Facebook and on Telegram. Straight from the trusted team at Trust Wallet, here are some tips on how to spot a fake FB account:
The MO of the scammers setting up these accounts is similar to the above – they use the promise of incentives if you follow their links and provide your private key details to claim the rewards. Once they have your keys, any crypto you had associated with that address is gone. If you are new to crypto, rewards schemes, Airdrops and competitions are common in the crypto community. However its up to you to identify what is legit and what is not.
How to keep you crypto safe
- Only ever download the app from the Official Trust Wallet site. This goes for any crypto wallet app you want to down load. Do not search on the name of the app in Apple Store or Google Play if you want to keep your coins!
2. Make sure you know the name of the developer so you can double check this when the app store link opens up.
3. Don’t rely on the number of reviews in the apps store – this feature is easy to replicate with bots. READ THE REVIEWS IN THE APP STORE! If folks are on the site saying the app is a scam, look into it!
4. Get on to the Trust Wallet Community or Google “Fake Trust Wallet App Reddit’ and read through some posts.
5. Only participate in rewards or incentive programs with legitimate exchanges and projects. Only every access these directly from within the project’s official site. Don’t click links from other sites or accounts to participate in reward schemes, airdrops or competitions.
6. And the most important way to keep your crypto safe – NEVER GIVE YOUR PRIVATE KEYS OUT TO ANYONE! If anyone every asks for your private keys that is a sure sign you’re about to be scammed.
Stay SAFU in crypto!