- EOS developers warn users of a fake application that seeks to steal funds.
- EOS found support at $5.3 before the pullback that lost steam at $5.5.
Cryptocurrency scams continue to increase in the industry. Fake accounts have for a while been ripping off unsuspecting user funds. The latest of these scams has affected a number of user funds. The good news is that the developers in the community were quick to alert the users via Twitter not to fall for the scam.
The fake wallet referred to as SimpleEOS was created to be able to imitate applications developed by EOS RIO. EOS RIO falls under the 21 ‘Block Producers’ on the EOS protocol. It is based in Rio de Janeiro. SimpleEOS is able to get to access to user funds by duping them into revealing their private keys. The scam alert stated:
“There is a fake SimplEOS app on Google Play! We’ve taken the security measures to take it down! Please help us spread the word to avoid users from being hacked! The secure way to download your SimplEOS is on.”
Steps have been taken to reduce the effect of the fake app including removal from Google Play Store. Users are advised to verify the authenticity of a developer before signing up on any application. It is very unfortunate that the developers of an application can also be imitated.
EOS price technical picture
EOS is dancing in the red at the time of writing. The price has corrected lower 0.89% on the day following a retracement from the supply zone seen at $5.5. The token is going for $5.44 at the press time. Moreover, EOS movements are limited between the moving average support and resistance. A correction from yesterday’s dip to the support at $5.3 cleared the descending trendline resistance at $5.36. This ignited further movement above $5.4 before it came to a halt short of $5.5. The signals are positive at the moment with the RSI facing upwards above 50% and the MACD sitting in the positive region. EOS is prime for gains above $5.5, a move that will open the way for gains past the upper supply zone at $5.8 before attacking $6.0.
EOS/USD 1-hour chart
Share
