The defendants are charged with using the wide global reach of websites like YouTube to advertise these applications and with running text-messaging operations to reach out to possible victims.
Google is actively identifying and addressing dangerous apps that are advertised on its Play Store. The internet giant has recently discovered two people who may have been using the app store to advertise phony cryptocurrency apps. Google has filed a lawsuit against two Chinese nationals who live in mainland China in order to remedy this problem. Apple, Google’s primary rival, on the other hand, has put policies in place to forbid participation in crypto-related activities, placing a higher priority on shielding its customers from financial dangers.
According to Google’s lawsuit, the two Chinese nationals lured customers into using phony cryptocurrency apps, which led to their deposit of money and prevented them from accessing their money.
The parties to the complaint are identified as Hongnam Cheung, also known as Zhang Hongnim or Stanford Fischer, and Yunfeng Sun, also known as Alphonse Sun. In an official Google filing, the defendants are accused of fabricating information about their location, identity, and the type of fraudulent apps they are submitting to the Play Store.
According to Google estimations, over a million downloads of these fraudulent cryptocurrency apps were made. Among the at least 87 cryptocurrency fraud apps that Google claims the two pushed and uploaded to the Play Store, one particular app that was highlighted is the TionRT exchange.
The defendants are charged with using the wide global reach of websites like YouTube to advertise these applications and with running text-messaging operations to reach out to possible victims.
Furthermore, the tech giant is suing the software developers for breaking the Racketeer Influenced and Corrupt Organizations (RICO) statute. The RICO law was passed in the US in 1970 with the intention of battling organized crime.
Increase In Crypto Scams
Numerous cryptocurrencies have been introduced as a result of the considerable global expansion the cryptocurrency sector has enjoyed in recent years. Crypto scammers have taken advantage of this and have ramped up their fraudulent activities, causing significant financial losses for the community.
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In an effort to improve security for its citizens, a number of nations are currently putting legislation in place to monitor the cryptocurrency industry. In order to trick gullible people, con artists have used strategies like phony applications, false airdrop promises, and misleading high-return schemes.
Authorities have asked platforms like as Google’s Play Store and Apple’s App Store to be extra diligent in detecting and correcting harmful apps in light of the recent spike in crypto-related crimes.