Blockchain data analysis company Bitrace assisted the Shanxi police in successfully cracking down on a gang that manufactured and distributed fake wallets. The gang has been distributing fake wallet APK installation packages through Telegram, WeChat groups, etc. for a long time, and purchased advertising services on search engines, counterfeiting TokenPocket’s official website, and inducing victims to download and install fake wallets to steal encrypted assets. Currently, the case is under further investigation and trial. According to Bitrace, fake wallet stealing activities have been highly industrialized, and the methods of stealing coins have been continuously upgraded. Recently, a large number of victims have encountered the new multi-signature method of stealing coins, and the scale of damaged funds is continuing to expand. Therefore, users are reminded to download wallets from regular app stores or official websites, and do not install APK installation packages sent through Telegram or WeChat groups, or wallets downloaded from search engines, to prevent encrypted assets from being stolen.