DeepSeek Blockchain Scam App Secretly Collects Private Data

The Chinese government has warned the public about a major cryptocurrency scam involving the “DeepSeek blockchain project.”

A major cryptocurrency scam has been targeting the public in China recently with the “DeepSeek blockchain project,” according to a new report by Sohu.

What Happened: A criminal group has been defrauding people with the DeepSeek blockchain project, collecting funds from investors before disappearing, official sources confirmed.

The scam began with the circulation of a fake digital currency known as DeepSeekCoin within chat channels, leading to numerous people losing their investment funds, the report noted.

However, several experts in Chinese cybersecurity detected a malicious mobile app designed as a fake version of the official DeepSeek program.

The fake application, which can be installed via a QR code, requires users to click on an “update” button the moment it gets installed. This update procedure will open a secret data collection tool that allows the app to access private data and monitor messages, while also blocking any deletion attempts.

“We detected several imitated programs with various names that are used to disperse malicious software. People should obtain DeepCount only from the official website or official app stores,” a cybersecurity expert told Sohu.

A malfunctioning app, along with unordinary permission requests, should lead users to remove the app immediately and change their account passwords, experts advised.

People whose device refuses to uninstall the suspicious app should create data backups and consult with a professional.

Related Link: Best Cryptocurrency Scanners

Fake DeepSeek Sites Collect Funds: Another variant of the scam saw scammers creating imitation websites for the DeepSeek platform, duplicating its genuine look.

The sites were established as secure blockchain projects, which enticed financial investors to join their projects. However, the scammers disappeared after obtaining large sums of funds from victims.

The scammers also offered people the opportunity to earn thousands of yuan monthly with their DeepCount scheme. They sold luxury training packages for nearly 40,000 yuan, although most training materials were available for free online.

After initial purchases of 299 or 399 yuan, victims were enticed to purchase more training programs.

The authorities are advising people to be cautious about investment opportunities advertised online.

"Don't trust suspicious links, and don't join groups that promise unrealistic financial gains. The best way to avoid such scams is to be vigilant, as scammers are constantly adapting their tactics."