- Google banned another app
- App used to claim to earn money
- tempting people to invest large sums of money
Google banned this app because it was found that it was luring people interested in making large sums of money from cryptocurrency. People are interested in cryptocurrencies and blockchain, which is the technology behind digital currency. It has peaked ever since tech titans, including Tesla CEO Elon Musk and Twitter and Square founder Jack Dorsey, began talking about it publicly.
A report states that the value of the cryptocurrency bitcoin is about to double. The price of bitcoin is not even $50,000 and it is predicted that it will reach $100,000 and $175,000 very soon.
This app increases the interest of the people. Through these, hackers ask users to download apps equipped with adware and malware on the smartphone. These hackers promise large sums of money in return for small investments. At the same time, it is also very important to know that those who invest money are not able to see their money again. A large number of people are getting deprived of their money due to such fraudulent apps.
Let us tell you that a security research firm Trend Micro has detected this bitcoin-based app that was cheating Android smartphone users. Also, in its blog post, it has been said that there is an Android app available on Google Play Store which is available to download called ‘Daily Bitcoin Rewards – Cloud Based Mining System’. It describes itself as a cryptocurrency cloud mining application. In this, users could earn cryptocurrency by investing money.
However, when analyzed, Trend Micro found that Bitcoin Rewards – a cloud based mining system app was not only tricking users into viewing ads and paying for subscription services with an average monthly fee of $15 (₹ 1,103 approx). Rather, it was also paying users for increased mining capabilities, for which the users did not receive anything. Trend Micro informed the Google Play Store about its findings and Google banned the app.
How to protect yourself from downloading such apps from Google Play Store – Top 5 Tips:
- Never download an app that is not verified.
- Be sure to read the description about the company on the Google Play Store. This is extremely important.
- Be sure to check the common spellings and grammatical mistakes present in the company’s literature.
- Also check if the company has a website. From there verify the important details. Along with this, also check whether any person was told in it or whether there is any contact details or not.
- Don’t download an app that promises to make you rich or download an app that says it will give you big bucks for a small investment.
However, the matter does not end here. The research firm has said that there are many more such apps on the Google Play Store. He said that it is very important to note that if we search for cloud mining keywords on Google Play, we are still seeing the same type of apps. Some of these apps have been downloaded more than one lakh times. Trend Micro said that users should take precautions before downloading any app related to cryptocurrency on their smartphone.