As the coronavirus spreads, several hackers have seen it as an opportunity to make some extra cash. They have been taking advantage of people’s need to find information and using that to steal from them. To do this, they are using a simple but effective trick. Users are tricked into installing a malicious app that is supposed to help them track COVID-1 cases. 

The Scam Has Been Uncovered

Once a user installs the app on their phone, they are locked out and the hackers demand a $100 ransom to help them unlock their device. This scam was uncovered by DomainTools and they posted a blog post describing it. The researchers promised that as soon as they reverse-engineered the CovidLock ransomware, they would release the key free.

When they began working on how to unlock the ransomware, they succeeded quite quickly. They discovered that scammers had hardcoded a decryption key into the ransomware. The researchers said that they are not sure if this is the only decryption key. However, if a victim pays the ransom, it is the key, which they receive. The main point is that it does work and that is what matters.

The researchers shared the unlock code publicly via a tweet. According to the tweet, anyone who installed the infected COVID-19 tracking app should use the code “4865083501” to unlock his or her device. They added that the key was hardcoded into the app, which means it will work for everyone.

No One Fell for the Scam

The DomainTools researchers wrote a technical paper regarding the ransomware. In the paper, they noted that no one appears to have sent BTC to the Bitcoin address that came with CovidLock. As a result, it would appear that the criminals spent all their time and effort doing something that proved to be of no profit to them eventually.

Remember the Key 

The key provided by the researchers is “4865083501.” If your android device had already been locked but you were unwilling to pay the ransom, you can now easily unlock it with this key. You will discover that all your data is unlocked and you can delete the app.

How to Stay Safe

The app is not effective against Android Nougat. As a result, if your device can be upgraded to Nougat, you should do it today. Besides that, the researchers advise people to set up a strong password. Otherwise, the protection will not work if you do not set a password. This is important since the hackers might try again under a new name and using a new code.

Besides that, you should only download your apps from the main Google Play Store. If the app does not qualify to be on the Play Store, it is probably because of security concerns. Additionally, you should get all your data from trusted government sites. The WHO site offers regular updates on the spread of COVID-19.

If you follow the basic anti-phishing recommendations, you should be quite safe. These are not smart criminals targeting people. They are just opportunistic criminals.

Image Source: Pixabay 

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

Cambodia’s Central Bank Plans To Launch Project Bakong, Centralized Digital Currency

A recent media report indicates that Cambodia’s central bank is just months away from…

What You Should Understand About Automated Crypto Trading

Photo Credit To Cryptohopper Via Medium Making a profit on the 24/7…

Robinhood Took Brokerages to School With Zero Trading Fees, Crypto Powerhouse Next?

In the world of finance and investing, people tend to want 2…

Crypto Mining Farms Gaining Traction as Iran Currency Crisis Looms. Government Clamps Down

Photo Cred To Vilson Frangaj Via Flickr Iran has faulted an uncommon upsurge…

Token Talk Becomes A Top Crypto News Aggregator & Social Platform

In a world where crypto-blockchain trends are emerging, it’s very crucial for…

Germany To Become Crypto Heaven As Banking Access to Crypto Will Consider as Legal Tender

Banks in the European Union would be able to offer banking and…

Nasdaq’s New Partnership With R3 That Will Facilitate Tokenization Through Blockchain

R3 recently announced that it would be working with Nasdaq to facilitate the issuance…

Market Recap – Crypto Markets Grow $13 Billion, ETH Testnet Launch, Ethereum Classic Attack, And More

Global cryptocurrency markets added $13 billion last week, fueled by Chainlink, Zcash,…
ryan felton

Producer Ryan Felton Indicted by Federal Grand Jury For Crypto Fraud

Ryan Felton was indicted on September 12, 2020, by a federal grand…
DeFi

DMALINK and WeOwn Partner On DeFi Real Time Settlement And Clearing

DeFi trading looks to scale into new horizons as two companies join…