Google removes another batch of crypto apps from its Play Store | Invezz

Google has long since had problems with scammy and malicious apps within its Play Store, and despite all of its efforts to recognize and remove these apps, they just keep coming back, emerging in a different shape.

The company recently delisted eight allegedly fraudulent crypto-related mobile apps that were tricking crypto fans by charging fees for illegitimate cloud mining services. These kinds of apps seem to be a new major trend among crypto scammers, who intentionally mislead app users.

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The eight apps that Google removed recently were actually discovered by Trend Micro in its latest research. The apps claimed that they are running a legitimate cloud mining service, and they charged users a monthly fee, claiming that they will get a share of profits in return. However, the analysis of the apps discovered that they are malicious and that they were tricking people into watching ads and paying for cloud mining that never actually took place.

The apps were tricking users out of their money in several ways. First, they were asked to pay $15 in order to participate in cloud mining, but also an additional amount to unlock increased mining capabilities. Not to mention that some of the mentioned apps required upfront payment.

The fraudulent crypto apps allegedly included mining services including BitFunds, Daily Bitcoin Rewards, Bitcoin Miner, Bitcoin 2021, Crypto Hollic, Ethereum — Pool Mining Cloud, and MineBit Pro. There is also a fraudulent Bitcoin wallet called Pool Mining Cloud Wallet.

Google removes fake apps, but the problem remains unsolved

The research was forwarded to Google, and the company reportedly removed the apps from its Play Store. However, Trend Micro says that it managed to find even more similar apps, some of which were downloaded over 100,000 times. The research firm believes that there are at least 120 such apps currently operating on the Play Store.

Now, Google has made efforts in order to reduce the number of fake apps, such as revising its ad policy on August 3rd. The company now allows exchanges and wallets to market their products, but only if they register with the Financial Crimes Enforcement Network, on top of several other conditions.

Other companies have handled the crypto issue in more severe matters, such as TikTok’s decision to completely ban and remove all crypto content, which is actually similar to what Google itself did in 2018.