The Federal Bureau of Investigation has issued an alert for United States crypto investors, stating evolving threats against the industry. Specifically, the warning states that threat actors are utilizing fraudulent cryptocurrency applications to harvest investments from users into their personal digital wallets. Thus far, there have been 244 accounted victims from this malicious activity with approximate losses equating to around $43 million. Three (3) campaigns have been observed conducting such activities dating back to mid-late 2021. Since October 2021, threat actors have been operating an application called “YiBit” and have compromised the digital assets of four (4) individuals, stealing around $5 million in cryptocurrency. Another similar campaign occurred in November 2021, where threat actors maliciously convinced two (2) individuals to download their crypto-stealing platform “Supay” and deposit funds to their accounts which were promptly stolen. One (1) of these individuals was held for a $900k ransom with the threat actor claiming there was a minimum balance to pay or risk all assets being frozen. A more recent campaign defrauded around thirty (30) individuals and stole roughly $3.7 million in crypto assets. In this case, threat actors convinced a broader range of people to download a cryptocurrency application mimicking a United States financial institution. When victims attempted to withdraw funds from their wallets on the platform, they received emails stating that the transaction was denied and that significant taxes must be paid prior to withdraw. Even after victims paid the supposed tax, they were still unable to withdraw funds and lost their assets to these actors. With cryptocurrency continuing to be an evolving market and a valuable asset for underground cyber criminals, threats against the industry are expected to continue rising for months to come. CTIX analysts continue to monitor threat activity across the cryptocurrency landscape and will provide further update accordingly.