Cryptocurrency is all the rage these days, and bad apps and hackers are here to take advantage of the growing crypto hype, as is usual. These apps are meant to mislead unsuspecting users into downloading them to their smartphones.
Google has removed eight of the most risky crypto apps from the Play Store. These apps were created to trick unsuspecting users into downloading and installing them on their phones. These apps used the standard "get rich quick" technique to entice users to invest money in a "cloud mining service" and profit from it.
Despite the fact that these apps are not associated with cloud-mining operations or have any cryptocurrency-mining features, some of them prompt users to pay for increased cryptocurrency-mining capabilities via the apps' in-app billing systems, which range from $14.99 to $189.99, according to the Trend Micro report.
The eight banned apps, according to security firm Trend Micro, compelled users to watch commercials and charged an average monthly price of $115 (about $1114). These apps also indicated that users might pay for more mining power by purchasing their preferred crypto "machines" in the cloud.
The app Daily Bitcoin Rewards - Cloud Based Mining System encourages users to increase their crypto mining capacity by "purchasing" their favourite mining rigs in order to earn more coins at a faster rate, according to the report.
Google has banned the following eight apps:
1. BitFunds – Crypto Cloud Mining
2. Bitcoin Miner – Cloud Mining
3. Bitcoin (BTC) – Pool Mining Cloud Wallet
4. Crypto Holic – Bitcoin Cloud Mining
5. Daily Bitcoin Rewards – Cloud Based Mining System
6. Bitcoin 2021
7. MineBit Pro - Crypto Cloud Mining & btc miner
8. Ethereum (ETH) - Pool Mining Cloud
What’s worse is, Trend Micro says that there are still over 120 bogus cryptocurrency mining apps available. These apps have harmed over 4,500 users in the last year, according to the security research firm,
It is recommended that you uninstall any of these apps if you have them installed on your phone. To do so, go to Settings -> Apps, press on the app's name, and then choose 'Uninstall'.
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