Users fooled to pay for cryptomining whereas reality was astonishing
Recently cybersecurity experts came across massive cryptomining scam which was actually possible because of Android apps.
Researchers said that 170 of android cryptomining apps out of which 25 apps were listed in Google Play, remaining apps are third party apps in total scamming over 93,000 users.
This cryptominig app scam was only possible as they fooled people interested in cryptocurrencies by offering them cloud based cryptomining services. Scammers charged services fee from which they generated over an estimated $350,000.
The fraudulent apps are classified into 2 categories, namely “Bitscams” and “CloudScams” by researchers.
Bitscams are basically apps which offered users to provide an additional virtual hardware, they were charged respectively.
Whereas Cloudscams were offering users cryptomining solution through cloud computing power.
In short, it was quite shocking that google was at first not able to detect the malicious activities performed by these apps, But as things got visible 25 apps listed on google play were immediately removed.