Google bans eight dangerous crypto apps

Recently, Google removed eight fake cryptocurrency mining apps that were misleading innocent users. The in-app purchases of these varied from $14.99 to $189.99.

 

Cryptocurrency is gaining a lot of swirl in current times, but it has always been seen that with the advent of technology or innovation, its other side also takes a leap, to be precise, malicious applications and hackers are also ready to take benefit of the ongoing crypto boom. These apps are made to mislead innocent users by installing the apps on their smartphones.

The no of active fake cryptocurrency mining apps which are still online is more than 120: A security research firm stated.

Google has recognized eight such hazardous crypto apps on the Google Play Store and banned them. These apps were designed with the intent to mislead innocent users to install them on their phones. These apps had the deceptive yet attractive hook of a “get rich quick” scheme to fetch users into investing money in a ‘cloud mining service’.

The Trend Micro report notified that “Despite these apps which do not have any association with cloud-mining operations or possess any cryptocurrency-mining features, some of these apps ask users to pay for increased cryptocurrency-mining capabilities via the apps’ in-app billing systems that range from $14.99 to as high as $189.99,”.

As per the analysis done by security firm Trend Micro, the eight banned apps forced users to watch advertisements, these had an average monthly fee of $115 (approx. ₹1,114). These apps also prompted users to pay for increased mining ability by buying their favorite crypto “machines” in the cloud.

The report further added that “The app called Daily Bitcoin Rewards – Cloud Based Mining System suggests its users upgrade their crypto mining capacity by “buying” their favorite mining machines to earn more coins at a faster rate.”

Here’s a list of eight apps banned by Google:

BitFunds – Crypto Cloud Mining

Bitcoin Miner – Cloud Mining

Bitcoin (BTC) – Pool Mining Cloud Wallet

Crypto Holic – Bitcoin Cloud Mining

Daily Bitcoin Rewards – Cloud Based Mining System

Bitcoin 2021

MineBit Pro – Crypto Cloud Mining & BTC miner

Ethereum (ETH) – Pool Mining Cloud

Despite banning these apps, there’s still something worse, Trend Micro notified that there are over 120 fake cryptocurrency mining apps still available online which have deceived more than 4,500 users in the last year.

Users are advised to uninstall these apps if they’ve installed these apps on their phones. This can be done by going into Settings -> Apps and then, tap on the app’s name and select ‘Uninstall’.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.