Fake Android cryptocurrency mining applications were discovered. Specifically, these malicious apps were categorized into two kinds: BitScam, with more than 80,000 installations, and CloudScam that received only more than 9,000 downloads.
(Photo : Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)
In this Photo illustration Bitcoin Cryptocurrency logos seen displayed on an Android phone with an American flag in the background.
These two types of malicious Android applications offered around 172 paid apps, which the online attackers advertised to victims as cloud cryptocurrency mining providing services.
On the other hand, California-based cybersecurity firm Lookout, the one who discovered the fake Android crypto-mining apps, confirmed that 25 of these applications were offered in the official Google Play Store.
This is currently a serious matter since smartphone giants, especially Google and Apple, claimed that their app stores are now integrated with security features to avoid malicious apps. But, you also need to remember that cybercriminals and hackers are also improving their methods.
Anti-Fake Android Crypto Apps’ Details
According to Bleeping Computer’s latest report, scammers behind the malicious Android applications were able to steal more than $350,000. This amount came from thousands of victims across the globe, who bought the paid apps and installed the free fake ones for non-existent upgrades and additional services.
(Photo : Photo by Camilo Freedman/SOPA Images/LightRocket via Getty Images)
View of a cellphone application used to transfer money to a Bitcoin ATM. Salvadoran President Nayib Bukele has announced that he will propose a law to the Congress, where his party controls a majority, for Bitcoin to become legal tender. El Salvador would become the first country in the world to accept a cryptocurrency as a legal tender.
Also Read: Apple App Store Bitcoin Scam App Costs iPhone User $600,000: Epic CEO Calls Store ‘Full of Scams’
“These apps were able to fly under the radar because they don’t actually do anything malicious. They are simply shells set up to attract users caught up in the cryptocurrency craze and collect money for services that don’t exist,” said Ioannis Gasparis, one of the mobile app security experts at Lookout.
On the other hand, the security firm explained that the involved hackers said that the apps could offer more crypto income and other upgrades if the users install them. Since Bitcoin, Ethereum, and other digital currencies are becoming more popular than ever, thousands of people were easily fooled.
“Both CloudScam and BitScam also offer subscriptions and services related to crypto mining that users can pay for via the Google Play in-app billing system,” said Lookout.
How Can You Avoid Them?
Toms Guide reported that there are several things that fake Android crypto apps have in common. These include lots of ads when after installing, as well as unbelievably offered increase digital currency income.
On the other hand, if you already installed one of them, you need to delete it by going to the Settings and then accessing the “Apps & Notifications” option. After that, you need to click the suspected apps individually.
If you already used your email address to create an account for the fake app, then you need to change its password as well since there’s a high chance that it’s already compromised.
For more news updates about Android apps and other related stories, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
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