Your cryptocurrency might be in danger if you used any of these applications in mining. Virtual currencies have led to new methods of earning and holding money. But just like any business, the bad guys have a way of exploiting such means to lure and scam users. Google has however been able to spot some of these applications. Trend Micro says there are still over 120 fake apps available online with some having over 100,000 downloads. So here is a look into the Google Crypto blacklist of banned apps.
Online traders globally have reported challenges such as fraudulent applications that try to take advantage of beginners or even experienced crypto traders. The Google crypto blacklist is a list of apps that have been banned or better still, blacklisted from Google due to illicit modes of operation.
Reasons For Blacklisting
These apps have been taken down by Google due to several reasons. One of the most notable is that these apps are labeled as cryptocurrency apps that charge high fees from users to mine cryptocurrencies. But the apps have no factual mining ability or operations. The apps were initially hosted by Google posing as crypto mining applications and also made money off users by making them watch online paid ads with options offered to users to increase mining abilities.
In a statement by Trend micro -“Despite these apps not being associated with cloud-mining operations or having any cryptocurrency-mining features, some of these apps prompt users to pay for increased cryptocurrency-mining capabilities via the apps’ in-app billing systems that range from $14.99 to as high as $189.99”. Some of the apps even requested upfront payment from users.
According to in-depth research by Trend Micro: “These apps, which do not have cryptocurrency mining capabilities and deceive users into watching in-app ads, have affected more than 4,500 users globally from July 2020 to July 2021.” There is no exact figure as to how many users have been affected by these fraudulent applications from July till now. And no telling how many may have been affected by these practices. Not forgetting that some apps still on the loose, account for more than 100,000 downloads.
The apps banned from Google making it to the blacklist include:
- BitFunds – Crypto Cloud Mining
- Bitcoin Miner – Cloud Mining
- Bitcoin (BTC) – Pool Mining Cloud Wallet
- Crypto Holic – Bitcoin Cloud Mining
- Daily Bitcoin Rewards – Cloud Based Mining System
- Bitcoin 2021
- MineBit Pro – Crypto Cloud Mining & BTC miner
- Ethereum (ETH) – Pool Mining Cloud
In a statement by Trend micro – “The app called Daily Bitcoin Rewards – Cloud Based Mining System prompts its users to upgrade their crypto mining capacity by “buying” their favourite mining machines to earn more coins at a faster rate”.
So if you have spotted or are considering any of these applications, Google is saying you should uninstall them immediately. Trusted cryptocurrency applications are available for download online. So always check the authenticity of the applications before use.