Google Takes Action Against Scammers of Fake Crypto Apps

Google has filed a lawsuit against scammers who allegedly distributed fake crypto apps via its Google Play store, as reported by CNBC.

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The legal action, initiated in the Southern District of New York on April 4, reflects Google’s commitment to combating crypto scams and establishing a legal precedent for user protection.

Google Takes Legal Action Against Alleged Crypto Scammers

Google has filed a lawsuit against individuals accused of orchestrating a fraudulent scheme involving fake investment and crypto exchange apps on Google Play. The defendants, identified as Yunfeng Sun and Hongnam Cheung, allegedly posted at least 87 counterfeit apps on the platform.

According to Google’s complaint, the defendants provided false information about their identities, locations, and the nature of their apps. Halimah DeLaine Prado, Google’s general counsel, stressed the significance of the lawsuit in combating crypto fraud, which has led to substantial losses in the US.

Prado underscored Google’s commitment to utilizing its resources to protect users and deter fraudulent activities. The legal action involves civil claims under the Racketeer Influenced and Corrupt Organizations (RICO) Act and breach of contract claims.

The lawsuit outlines various methods employed by the defendants to attract users to their fake apps, including text messaging campaigns, online videos, and affiliate marketing strategies.

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Google’s Response to Crypto App Scams

Despite their seemingly legitimate appearance, users of counterfeit crypto apps were reportedly unable to withdraw their funds, and some were even deceived into paying additional fees. The complaint against the alleged scammers also details attempts to legitimize the apps, such as facilitating small initial withdrawals and issuing news releases. However, users encountered difficulties when trying to retrieve larger investments, receiving no response.

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In response to these deceptive practices, Google has bolstered its cybersecurity measures. This includes forming partnerships with law enforcement agencies and establishing a dedicated team to identify fraud. The company claims to have incurred damages exceeding $75,000 due to investigative efforts and safety enhancements.

Through legal action, Google seeks damages and a permanent injunction to prevent the defendants and their affiliates from accessing Google services or creating accounts. This lawsuit is part of Google’s broader strategy to safeguard its users and maintain the integrity of its platform in the face of rising online scams and cybersecurity threats.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.