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A fake digit yuan app has been uncovered, according to a post on WeChat attributed to the Chinese Ministry of Industry and Information Technology. The Trojan Horse download closely resembles the official version, but minor differences can be detected.
Besides “pulling dividends,” the fake app can collect sensitive user information and provides fake customer service that directs the user to “uncommon social tools” to facilitate the seizure of the user’s funds, the ministry <a href="https://mp.weixin.qq.com/s/javRAuA5J_rjhtRZH0u8Ow" target="_blank" rel="noopener nofollow">said</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-02/71e4166b-6703-4e4c-82fd-8b59806bec49.png" alt="" title="">
 <figcaption style="text-align: center;">
 The&nbsp;Ministry of Industry and Information Technology’s warning about the fake digital yuan app. Source: WeChat
 </figcaption>
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The fake central bank digital currency app uses a logo with a different outline from the authentic app, and its user interface is different but comparable. The fake app has a different name from the real one, as well as a different version number and different MD5 message-digest identity. 
No information was provided on the parties behind the scam or measures being taken to stop it. Cointelegraph was unable to find the fake app in the Apple or Google app stores. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-02/f0ac5ac8-1e81-4270-94bd-291f81f7142d.png" alt="" title="">
 <figcaption style="text-align: center;">
 The real (top) and fake digital yuan logos. Source: WeChat
 </figcaption>
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This is not the first alleged fraudulent digital yuan app. Similar scams were uncovered in <a href="https://twitter.com/TheBullGems/status/1436224253624475650" target="_blank" rel="noopener nofollow">2021</a> and <a href="https://twitter.com/richardturrin/status/1567804708189880321" target="_blank" rel="noopener nofollow">2022</a>. Speaking at the 2023 China (Beijing) Digital Finance Forum on Oct. 13, former People’s Bank of China Governor Zhou Xiaochuan <a href="https://finance.sina.cn/bank/yhpl/2023-10-13/detail-imzqxprt7849587.d.html?vt=4&amp;cid=76653&amp;node_id=76653" target="_blank" rel="noopener nofollow">said</a>:
<blockquote data-ct-non-breakable="true">
 “As the technical cost is getting lower and the system is becoming more and more convenient, the cost of abuse will become lower and lower. 
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This tendency “should be paid great attention to in the development of digital currency,” Zhou continued.
Related: <a href="https://cointelegraph.com/news/new-scam-drains-wallets-without-user-approving-transaction">New crypto scam drains users' wallets without transaction approval</a>
Despite its hardline anti-crypto policy, China has experienced several high-profile crypto-related crimes. Rogue foreign exchange traders <a href="https://cointelegraph.com/news/crypto-trading-platforms-part-of-illegal-chinese-forex-ring-report">used cryptocurrencies to export funds</a> from China in an operation worth $2.2 billion that was busted in December. 
<blockquote class="twitter-tweet">
 FRAUD ALERT One of many articles sponsored by "<a href="https://twitter.com/hashtag/YUANPAY?src=hash&amp;ref_src=twsrc%5Etfw">#YUANPAY</a>" a fake <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> posing as the <a href="https://twitter.com/hashtag/digitalyuan?src=hash&amp;ref_src=twsrc%5Etfw">#digitalyuan</a>! You can't buy e-CNY!<a href="https://twitter.com/Wales247?ref_src=twsrc%5Etfw">@Wales247</a> <a href="https://twitter.com/rhys247?ref_src=twsrc%5Etfw">@rhys247</a> due diligence!<a href="https://twitter.com/psb_dc?ref_src=twsrc%5Etfw">@psb_dc</a> <a href="https://twitter.com/BetaMoroney?ref_src=twsrc%5Etfw">@BetaMoroney</a><a href="https://twitter.com/efipm?ref_src=twsrc%5Etfw">@efipm</a> <a href="https://twitter.com/BrettKing?ref_src=twsrc%5Etfw">@BrettKing</a><a href="https://twitter.com/SpirosMargaris?ref_src=twsrc%5Etfw">@spirosmargaris</a><a href="https://twitter.com/enricomolinari?ref_src=twsrc%5Etfw">@enricomolinari</a><a href="https://twitter.com/hashtag/fintech?src=hash&amp;ref_src=twsrc%5Etfw">#fintech</a> <a href="https://twitter.com/hashtag/finserv?src=hash&amp;ref_src=twsrc%5Etfw">#finserv</a> <a href="https://t.co/FHQEskYEhE">https://t.co/FHQEskYEhE</a>— Richard Turrin (@richardturrin) <a href="https://twitter.com/richardturrin/status/1567804708189880321?ref_src=twsrc%5Etfw">September 8, 2022</a>
</blockquote> 
Chinese authorities have claimed concerns over data theft and money laundering drive their campaign against crypto, but others say the fight against capital flight <a href="https://cointelegraph.com/magazine/real-reason-chinas-war-on-crypto-3ac-judges-embarrassing-mistake-asia-express/">is their real motivation</a>. 
The digital yuan <a href="https://cointelegraph.com/news/china-cbdc-transaction-volume-nears-two-trillion-yuan">reached $250 billion in transaction volume</a> in 2023. Late that year, a Chinese <a href="https://cointelegraph.com/magazine/first-digital-yuan-wallet-seizure-chinas-10b-web3-fund-starbucks-nfts-asia-express/">court seized a digital yuan wallet</a> in a civil case over an investment dispute. 
Magazine: <a href="https://cointelegraph.com/magazine/yuan-stablecoin-team-arrested-wechats-new-bitcoin-prices-hk-crypto-rules-asia-express/">Yuan stablecoin team arrested, WeChat’s new Bitcoin prices, HK crypto rules: Asia Express</a>

Chinese ministry posts warning about fake digital yuan app

Cointelegraph

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