NEPSE AI app, a malware in disguise, has emerged to be behind scamming many users of millions of rupees in the past few days. It’s the latest instance of how dangerous cyber threats have become in today’s digital world, and calls for the necessity to be careful against their deadly effects.
The NEPSE AI name criminally bears a resemblance to NEPSE, which stands for Nepal Stock Exchange. This is a big reason users are feel that it’s legitimate and official. They then end up downloading the malicious app.
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What is NEPSE AI app?
The NEPSE AI app is a malware that appears on social media apps such as Facebook, Instagram, etc. The app falsely claims to provide suggestions and tips to increase share market investors chances of earning a fortune in the stock market. And clearly, due to its name, share market investors and enthusiasts easily give in to it. When they download the app, the trouble begins.
Also: What Is a SIM Swap Scam And How Can You Stay Safe From It?
How does NEPSE AI work?
NEPSE AI first appears in the disguise of a ‘sponsored’ post on social media that claims to help users conduct all share market transactions automatically with the help of AI. When users click on it, a new interface opens from where they download the notorious NEPSE AI app. It then follows with instructions to the users.
Then a remote session initiates, which then renders the users’ mobile phone screen ‘blank’. When the screen restores to normal, third-party (installed) apps disappear, including mobile banking apps. During this period, hackers steal the money from the users’ mobile banking apps.
Other users have said that when they engaged with the sponsored ad page, they were sent a link to nepsemeetai.com, which came with a file named ‘NepseMeetAI.msi’. This leads to downloading the rogue software. It’s been said that when users installed the app and opened it, a ‘Windows update’ notification appeared, and when the update ‘completed’, an illegitimate money transfer took place.
The scam through the NEPSE AI has been on the surface for over a month. But only in recent days, the fradu cases are surfacing as victims learned that it was the rogue app swindling the money out of their bank accounts.
Central Investigation Bureau requests users to stay safe
Amidst the horror caused by the NEPSE AI app, the Central Investigation Bureau (CIB) has requested users not to trust any false ads that claim to enhance users’ stock market potential. The Bureau has likewise requested users to use two-factor authentication (2FA), and frequently change their passwords. It also instructs users not to give remote access to strangers. And, the Bureau requests users to only install apps from Play Store, App Store or official platforms.
Machhapuchchhre Bank Ltd. has also released a notice addressing its customers to be careful against any suspicious post and links on social media that claims to help users with share market-related activities.
Check out: How to use Mero Share, Apply IPO Share online
So far, it’s been said that millions of rupees have been scammed out of people through the NEPSE AI app/software. So, we can’t overstate the need to stay unmoved by any temptive posts or ads on social media that promises to transform your share market possibilities. You should only choose official sources for all market information and app downloads.
By the way, if you are a heavy internet user who also connects to WiFi hotspots outdoor, check out: How to use free WiFi hotspots safely for best tips that might save you.
