Google deletes more Fake Crypto Mining Apps from Play Store
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Cryptocurrency mining is not an easy task. It involves an expensive but thorough process but it is rewarding in the end.
The crypto market has been operating openly, as anybody can invent an altcoin and push it into the Defi market.
Also, numerous developers have created different crypto mining apps that people could download and start mining cryptos immediately.
The prevalence of fraud in our day-to-day dealings has sharpened our minds to know that for every product that enters the market, some unscrupulous persons will find ways of defrauding people of their money by creating a fake version of such a product.
This can be likened to the presence of some cryptocurrency mining apps that operate in disguise just to rob victims of their money.
How this fraudulent activity takes place is; Each time victims watch ads on the app, a certain fee for some sort of subscription is deducted.
It has been reported that over 120 counterfeit crypto mining apps have been detected by Trend Micro.
Trend Micro is a cybersecurity firm that has its global headquarters situated in Tokyo-Japan. It was founded in 1989. It helps discover security for networks and their users.
This discovery made by Trend Micro has led to the removal of some of those fake apps from PlayStore.
According to the report published by Trend Micro, they warned users about downloading counterfeit cryptocurrency mining apps that deceive victims into clicking and watching ads that would eventually lead them into paying for subscription fees.
They went ahead to mention some of the deceptive apps found on Google Play Store thus: Crypto Holic, Bitfunds, Bitcoin Miner, Bitcoin – pool mining cloud wallet, Bitcoin 2021, Minebit Pro, Ethereum – pool mining cloud, and a host of others.
They explained further that these fake apps deceive people into watching in-app ads and paying for subscription fees with an average fee of $15 monthly plus making victims do payments for increased cryptocurrency mining capacity without getting anything in the end.
The Cybersecurity firm added that they have reported their findings to Google Playstore, and those apps have been quickly removed from the app store.
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