A new scam has been detected involving the use of counterfeit apps designed to exploit cryptocurrency users. According to digital asset investigator ZachXBT, fraudulent applications mimicking the branding of the crypto trading platform Hyperliquid have appeared on the Google Play store.
Here’s a detailed breakdown of the issue, how the scam operates, why users should be vigilant, and recommended safety measures:
1. What’s going on?
ZachXBT has publicly warned that malicious apps impersonating Hyperliquid are currently available on Google Play. These fake apps replicate the legitimate platform’s visuals and branding in order to deceive users into downloading them. Once installed, they may prompt users to input sensitive credentials (login information) or even private keys, thereby enabling fraudsters to gain unauthorised access and potentially drain funds.
What’s particularly concerning:
-
The fake apps evade Google Play’s security filters and remain publicly downloadable.
-
The scam underlines how increasingly sophisticated phishing and impersonation tactics have become in the crypto space.
2. Why this matters
For users of Hyperliquid or those exploring new crypto platforms, the risk is two-fold:
-
Loss of funds & credentials: Users entering login details or private keys into the fake app may have their accounts compromised.
-
False sense of security: Because the fake app appears in an official store and uses familiar branding, victims may feel safe when they are not.
In broader terms, this incident emphasises a critical vulnerability: official app stores are not immune to malicious actors, especially in the crypto domain. Users must adopt self-defence strategies.
3. How the scam works: typical flow
-
User searches for “Hyperliquid” in Google Play and downloads what appears to be the official app.
-
On opening the app, the user is asked to log in or enter private keys / seed phrases under the guise of “account verification” or “security upgrade.”
-
Once credentials or keys are entered, scammers can access the user’s real account or wallet.
-
User’s funds may be transferred out, often leaving few traces.
Because the fake app mimics UX, branding and maybe even rating, the user could be misled into thinking everything is legitimate.
4. Key red flags to watch for
-
App name slightly different from official (extra characters, slight misspelling).
-
Developer name doesn’t match the official Hyperliquid team.
-
Unusually low number of downloads or reviews, or reviews warning of malware.
-
Requests for private keys / seed phrases or advanced permissions immediately after installation.
-
Links to “deposit now” or “upgrade your account” pushing urgency.
If you see these signs, do not proceed. The official platform should never ask for your private key or seed phrase.
5. What you should do
-
Only download the official app from verified sources—check the developer name, official website link, and other metadata.
-
Prefer using the web version via the official Hyperliquid website rather than third-party downloads. The warning explicitly suggests avoiding any Hyperliquid-related app on Google Play until official confirmation.
-
If you’ve already downloaded such an app and entered credentials, immediately change your account passwords, enable two-factor authentication (2FA), and monitor for unauthorised transactions.
-
Stay updated with announcements from the official Hyperliquid team and reputable crypto news outlets.
-
Consider uninstalling the suspicious app and scanning your device for malware.
6. The wider takeaway for crypto users
This incident is a reminder that the crypto industry remains a prominent target for sophisticated scams. Fraudsters exploit both the excitement around new platforms and users’ desire for decentralised access. Even when using reputable services, users must remain cautious and proactive about security.
As platforms evolve and adopt novel features, so too do the tactics of scammers. The best defence remains awareness, verification, and vigilance. Always treat any unexpected app installation, credential request or wallet prompt with healthy scepticism.
7. Conclusion
In summary: a fake Hyperliquid app is circulating on Google Play purporting to be the real thing, and it poses a serious threat to users. Downloading it and inputting credentials or private keys could lead to loss of funds. The investigator ZachXBT’s warning should serve as a strong signal: verify carefully, stay safe, and when in doubt, assume you’re dealing with a scam.
Ready to start your cryptocurrency journey?
If you’re interested in exploring the world of crypto trading, here are some trusted platforms where you can create an account:
- Binance – The world’s largest cryptocurrency exchange by volume.
- Bybit – A top choice for derivatives trading with an intuitive interface.
- OKX – A comprehensive platform featuring spot, futures, DeFi, and a powerful Web3 wallet.
- KuCoin – Known for its vast selection of altcoins and user-friendly mobile app.
These platforms offer innovative features and a secure environment for trading and learning about cryptocurrencies. Join today and start exploring the opportunities in this exciting space!
Want to stay updated with the latest insights and discussions on cryptocurrency?
Join our crypto community for news, discussions, and market updates: CryptoBCC on Youtube | Telegram | Facebook | Discord | X(Twitter)
For collaborations and inquiries: CryptoBCC.com@gmail.com
Disclaimer: This is not investment advice. Cryptocurrency investments carry high risk. Always conduct your own research.
