According to Trend Micro research, Google has removed eight dangerous mobile apps from the Play Store, one of which was a cryptocurrency cloud mining app.
The organisation discovered eight malicious applications that are disguised as cloud mining cryptocurrency programmes in order to deceive users.
“With an increasing number of people learning about crypto-monetary mining, cyber criminals exploit people’s interest in constructing phoney Androids that target those who are interested in virtual currencies, not just by using cryptocurrency mining malware,” he wrote in his blog post. According to the report, this harmful programme dupes people into viewing advertisements, paying a monthly average subscription charge of $15 for subscription services, and paying for enhanced mining capacities without receiving anything in return. The apps were quickly removed from the Play Store after the company reported its findings to Google Play.
Crypto Cloud Mining, Bitcoin Mining, Bitcoin – Pool Mining Cloud Wallet, Crypto Holic – Bitcoin Cloud Mining, and Daily Bitcoin Rewards – Cloud Mining System were among the fraudulent applications..
Ethereum 2021 and Bitcoin 2021 (ETH) Crypto Cloud Mining and Bitcoin Cloud Mining – Mining Cloud Pool
Two of the apps that users were required to buy were paid for. The first cost is $12.99 for downloading Crypto Holic – Bitcoin Cloud Mining, and the second cost is $5.99 in daily Bitcoin awards.
Fake or Unreal applications
When the company searched the terms “cloud mining” on Google Play, it discovered “relevant applications” that were identical to such apps. Some of these apps have already been downloaded by over 100,000 people.
According to his research of the eight dangerous apps, these programmes did not engage in cryptocurrency mining. The simulated mining activities on the UI were carried out by a local mining simulation module that contained the counter and some random functions.
Regardless of whether it has cloud mining features or crypto-monetary mining capabilities, several apps have pushed users to use in-app payment system solutions to pay for greater encryption-mining capabilities. The payments ranged from $14.99 to $189.99.
Daily Bitcoin Rewards – Cloud-based Mining System, for example, encourages users to expand their crypto-mining capability by “purchasing” the mining machines they desire, allowing them to gain more coins at a faster rate.
Some of the fake apps are labelled as cloud mining apps on the application’s display pages and in the Google Play Store Finance category.
However, it is only a game with no cryptocurrency mining capabilities and no obligation to generate crypto-monetary payments to its players in exchange for using one of these applications. Furthermore, the app does not guarantee returns for virtual items or features purchased through the app.
Trend Micro also revealed that some of the bugs caused customers to click on advertisements rather than pay for more computer power.
The withdrawal interface’s use has also been invited to invite friends. You would not remove cryptocurrency from the app once you were able to invite friends and open the withdrawal screen. This feature would always be hidden away.