📰 Table Of Contents
Google’s Lawsuit Against Crypto Scammers
Google has filed a lawsuit against a group accused of defrauding more than 100,000 individuals worldwide by uploading fraudulent investment and crypto exchange apps to Google Play. The lawsuit, filed in the Southern District of New York, claims that the defendants engaged in multiple misrepresentations to deceive Google and upload their fraudulent apps to Google Play.
Allegations and Claims
The misrepresentations include falsifying information about their identity, location, and the nature of the applications being uploaded. Google’s lawsuit includes civil claims under the Racketeer Influenced and Corrupt Organizations (RICO) law, as well as breach of contract claims.
Scammers Published At Least 87 Fraudulent Apps
Google asserts that the scammers created and published at least 87 fraudulent apps to deceive users. The alleged scammers, identified as Yunfeng Sun and Hongnam Cheung, are said to have conducted their scheme since at least 2019.
Methods Used by Scammers
The scammers employed various methods to entice victims into downloading their apps, including text message campaigns, online promotional videos, and affiliate marketing campaigns.
Fake Crypto Trading Interfaces
The team at Sophos discovered a string of apps which all load fake crypto trading interfaces pulled from remote websites, and use recycled templates and descriptions.
Fake Exchange App TionRT
One of the apps highlighted in the lawsuit is TionRT, which claimed to be a crypto exchange. Victims who were unable to withdraw their funds received no response from the scammers, leading to the eventual shutdown of the platform.
Google’s Response and Actions
Google became aware of the fraudulent apps through reports from victims who were unable to withdraw their funds. The company maintains a dedicated cybersecurity team that actively monitors its platforms and services for potential abuses.
Legal Action and Damages
Google seeks a permanent injunction against the defendants and claims damages exceeding $75,000, which include expenses related to investigating the breach and ensuring platform safety and integrity.
Google’s New Feature for Crypto Users
Meanwhile, Google recently launched a feature allowing users to search balances of wallets on Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom blockchain.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
