pwshub.com

Unveiling the Google Play Crypto Scam: 87 Fraudulent Apps Exposed

Unveiling the Google Play Crypto Scam: 87 Fraudulent Apps Exposed
Unveiling the Google Play Crypto Scam: 87 Fraudulent Apps Exposed

Google filed a complaint in the Southern District of New York against a group of alleged scammers. The complaint claims that the accused "conducted their version of the Fraud Scheme by socially engineering and conning victims into ‘investing’ in apps, available on Google Play and through other means, that purported to be cryptocurrency exchanges and other investment platforms.”

Google said that the defendants created fraudulent apps that purported to be legitimate cryptocurrency exchanges and investment platforms and made them available on Google Play. Sun and Cheung also made "multiple misrepresentations to Google in order to upload their fraudulent apps to Google Play, including but not limited to, misrepresentations about their identity, location and the type and nature of the application being uploaded.”

The defendants allegedly exchanged texts with victims in an attempt to “persuade the victims to download and invest through one of their apps.” They also created marketing campaigns and videos. However, the complaint claims that customers who made deposits on the apps couldn’t withdraw their funds.

Google said that 87 apps have been linked to the scheme. According to the suit, “Google records indicate that at least approximately 100,000 users have downloaded the Fraudulent Apps, including at least approximately 8,700 in the United States.”

It’s not clear, based on the complaint, how much money has been lost to the alleged fraud but Google says that the financial losses have been “substantial.”

The company seeks a permanent injunction to bar the defendants from accessing or using Google services and products, and  “creating or maintaining” Google accounts. Google also wants the defendants to pay attorney fees and “reasonable costs.”

newsid: sgqyijbgbzxxxb9

Related stories
10 hours ago - German investors are showing renewed interest in cryptocurrencies ahead of Bitcoin's upcoming halving event.
6 days ago - Pohang, South Korea, plans to seize digital assets of over 5,000 tax delinquents to recover millions in unpaid taxes.
1 week ago - Binance faces legal battles in Nigeria, with executives detained and allegations of financial crimes, while the country's stance on cryptocurrency remains uncertain.
1 week ago - Google is suing alleged crypto scammers who used fake Android apps to defraud victims through social engineering and fake relationships.
1 week ago - Major cryptocurrency exchanges will list Wormhole's W token on April 3rd, featuring airdrops, spot trading, and a seed tag system.
Other stories
2 hours ago - SAG-AFTRA negotiates a deal to protect actors' voices from unrestricted AI use, ensuring consent and compensation.
2 hours ago - Analyst The Flow Horse p
4 hours ago - Solana releases a network update to address congestion, with further enhancements planned.
5 hours ago - Despite the upcoming Bitcoin Halving, analysts warn that the recent market decline does not guarantee further gains.
5 hours ago - Bitcoin miners face competition from booming AI industry's power-hungry data centers, particularly in Texas.