Eight deceptive cryptocurrency mining apps have been removed from the Google Play Store due to user deception. According to security firm Trend Micro, the apps were discovered to be fake and tricked users into watching advertisements.
The apps pretended to be cryptocurrency cloud mining apps, allowing users to earn money by investing in a cloud mining operation. According to Trend Micro, the apps duped users into watching advertisements, paying an average monthly fee of $15 (approximately Rs 1,100) for subscription services, and paying for “mining capabilities” enhancement with no return on investment.
Because users are more likely to trust apps that require payment during installation, two of these apps required users to purchase them from the Play Store in order to install them. Downloading Daily Bitcoin Rewards costs $5.99 (approximately Rs 960), whereas Crypto Holic costs $12.99. (approximately Rs 960). (approximately 450 rupees).
According to the security firm
The apps engaged in bogus mining activity rather than actual cryptocurrency mining behavior by using a local mining simulation module that included a counter and some random functions. These apps, on the other hand, had in-app billing systems that charged users anywhere between $14.99 (approximately Rs 1,111) and a whopping $189.99 (approximately Rs 14,000.
Furthermore, in its terms of service, one of the apps, MineBit Pro, stated that it was merely an educational simulation/game designed to help users learn more about the crypto currency ecosystem, and that refunds for the purchase of virtual goods were not guaranteed.
Despite the fact that these eight apps are said to have been removed from the Google Play Store, Trend Micro is concerned that searches for cloud mining in the Play Store return a slew of similar apps, some with over a million downloads.
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