Fraudulent Ethereum (ETH) App Appears on Google Play Store, Malware Researcher Reports
Android’s Google Play Store seems to have become a spot for hosting fraudulent Ethereum (ETH) applications, The Next Web reports on August 21.
A Slovakian malware researcher, Lukas Stefanko, found yet another Ethereum (ETH) scam app on Google Play Store that was allegedly available for purchase at a price of $388, according to the report published by The Next Web.
In a tweet on August 20, Stefanko noted that purchasing this application is not the same as an ETH purchase, implying that his discovery is a cryptocurrency scam intended to make a fortune out of defrauding users by mimicking the original Ethereum (ETH), which is worth almost $290 at press time.
Lukas Stefanko’s tweet shows that the crypto scam application, described as “just as Ethereum” through Google Translate, was developed by “Google Commerce Ltd.” In addition, the tweet shows that the app had already managed to amass more than 100 installs since its last update in Aug. 2017.
The actual name of the developer of Google-backed apps on Android’s Google Play Store is “Google LLC”, not “Google Commerce Ltd.” At press time, the fraudulent app is unavailable on Google Play Store.
In July, Google had banned crypto mining applications on Google Play Store, only permitting remote mining apps. According to the report, despite Google’s ban on crypto mining applications, some illicit apps like JSEcoin still appear on the Play Store, noting that Google developers have 30 days or a month from the date of policy changes to comply with new policies.
Earlier in April, Google also announced a ban on all mining extensions from Chrome Web Store, along with all browser extensions to mine cryptos. And, in March, the tech giant followed Facebook’s move by banning all crypto-related ads, a move that subsequently affected the crypto market.