Since August 3rd, Google has allowed cryptocurrency exchanges and wallets to advertise their products to customers in the United States. To be eligible, exchanges and crypto projects must be certified by Google and register with the Financial Crime Network (FinCEN).
Following Google’s announcement, several fraudulent applications began to appear on the Google store, disguised as cloud mining programs for cryptocurrency. Their descriptions claimed that they allow users to receive cryptocurrency, as well as invest it in cloud mining.
These fraudulent apps deceived customers into paying monthly subscription fees, watching ads, and paying for additional features. They could have also stolen personal data.
Trend Micro compiled a report and contacted Google. After that, the following applications were removed:
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
MineBit Pro – Crypto Cloud Mining & btc miner
Ethereum (ETH) – Pool Mining Cloud
“Applications that do not provide real mining capacity and simply deceive users were used by at least 4,500 people between July 2020 and July 2021,” the report says.
There are many more bogus applications, so be careful!