The US-Japenese firm named Trend Micro reported that 8 crypto cloud mining apps were labeled as “Fake crypto apps”. The Malicious apps were used to trick its customer to pay for a subscription and watch ad advertisements according to the report.
As the innovative market of crypto starts to rise and expand so are the scammers finding new ways to trick people and steal their money. Most governments are trying to regulate this new and complex market for the safety of their people. For example, the SEC chairman has talked that they are neutral on this market because this is decentralized but when it comes to investor protection we are not that neutral. Google has come forward with such information that can guarantee investor protection.
Trend Micro has revealed in a recent report that the 8 cloud-based mining apps used to offer free crypto to people for watching advertisements. These cloud operations were all fake and people were tricked to pay for the subscription which was on average of 15$.
Fake crypto apps list:
Google play was informed about these apps and these Fake crypto apps were removed from the play store permanently. The list of those apps is given below:
- 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
Trend micro explained that there was no mining operation. The fake mining activity was being performed using some simple local functions and another mining simulation. Still, there are more than 120 apps that do the same kind of scams.
These apps, which do not have cryptocurrency mining capabilities and deceive users into watching in-app ads, have affected more than 4,500 users globally from July 2020 to July 2021,” according to the firm.
Such initiatives are welcome and appreciated by crypto lovers. I hope these Fake crypto apps will not come back to play store again. For more content click here.