Google Playstore has banned and removed eight(8) malicious crypto-mining apps from Playstore. According to Reuters (via HiTech), these apps were used to lure people interested in making money from cryptocurrencies to watch videos and pay subscription fees without receiving the profits they were promised when investing in these crypto mining apps.
Cryptocurrency mining has gained a lot of interest recently. However, cybercriminals are using the public interest in making money from cryptocurrencies to amass profit for themselves. They rather trick people into installing dangerous apps containing adware and malware on their smartphones. Although Google has identified and removed them from Playstore, most of these apps are still online and are being used to scam other people. Here is the list of the ‘fake’ cryptocurrency apps removed from Google Playstore; These apps need to be deleted from your phone immediately if you have them.
- 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
A recent study from a cybersecurity firm,TrendMicro, revealed that these apps which posed as cryptocurrency mining apps were used to trick users by serving serious adware to them. Victims were tricked into watching several videos claiming to be crypto-mining activities, which were completely false. Some apps also required users to pay monthly subscriptions of $15 and also paying for increased mining capabilities without getting anything in return.
According toTrendMicro, there are still over 100 ‘fake’ crypto-mining apps available on the internet. As a result, they encourage users to be careful when downloading such apps, as they have “affected more than 4,500 users globally.”
“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, ” the company wrote in a blog.
How to spot a ‘fake’ crypto-mining apps:
- Before you install any crypto app, carefully read the app reviews. Pay close attention to the 1-star reviews, as they tell the true nature of the app. Most Fake apps pay for numerous 5-star ratings on Playstore.
- Try entering an invalid cryptocurrency address. ‘Fake’ cryptocurrency apps do not link your crypto address to the app. If the app does not prompt you to enter the correct or a different address, it is fraudulent.
- Because crypto-mining occurs even in the background, the app is likely to be fake if you restart your phone during the mining process and the counter resets to zero.
- Confirm if there is a withdrawal fee: The transfer of cryptocurrency requires a handling fee, which is relatively high compared to what is typically made from cloud mining. Hence, free withdrawals are very suspicious, the firm said.
Read Next:
