Cardano Wallet Issues Scam Alert

Lace, the Web3 wallet built specifically for the Cardano ecosystem, has issued an urgent warning to its community regarding a phishing scam currently targeting mobile users. 

According to an alert posted on the official Lace X (formerly Twitter) account, malicious actors have deployed fake applications impersonating the wallet on both the Apple App Store and Google Play.

The “SK App technology” threat

The fraudulent applications are currently listed under the developer name “SK App Technology.”

Scammers frequently use fake wallet apps to trick unsuspecting cryptocurrency holders into downloading the software and inputting their private recovery phrases. 

Once a user enters their seed phrase into the imposter application, the attackers can instantly drain the victim’s digital assets.

The catch 

The most critical detail for users to remember is that the official Lace mobile app does not currently exist. Developed by Input Output Global (IOG) (the core development firm behind the Cardano and Midnight networks), Lace is currently only available as a desktop browser extension for Chrome, Brave, and Firefox. While a mobile version is on the company’s official roadmap, it has not yet been released to the public.

“Our official mobile app is NOT live yet, we’ll announce it here first,” the Lace team emphasized in their alert.

The developers are urging the Cardano community to remain highly vigilant and to completely ignore any mobile app store listings bearing the Lace name or logo. 

Of course, users are advised to rely strictly on the official website (lace.io) for legitimate downloads and future announcements regarding the actual mobile release.