Security News > 2024 > February > China warns of fake digital currency wallets fleecing netizens

China's Ministry of Industry and Information Technology has warned local netizens that fake wallet apps for the nation's central bank digital currency are already circulating and being abused by scammers.

Using the digital currency requires an app - here's the iOS version - and a link to a bank account.

China has promoted the app with cash giveaways, by encouraging merchants to accept it, and by making it prominent at major events like the 2022 Beijing Winter Olympics.

Unfortunately that's a little more difficult in China than elsewhere, as the nation is thought to host over 100 Android app stores - the biggest of which are run by major handset manufacturers like Huawei and Xiaomi.

The Register fancies that many of China's myriad Android app stores do likewise - or do worse in their efforts to detect harmful software.

A rash of rogue and/or fraudulent e-CNY apps will make it harder for Beijing to find willing customers for its digital currency.

News URL

https://go.theregister.com/feed/www.theregister.com/2024/02/27/china_fake_ecny_app_warning/