Crypto-mining can sometimes be lucrative and cyber-criminals know its allure, so they inundated the Google Play Store with many fake apps…
Cyber-security experts have discovered a number of malicious apps posing as crypto mining services. Researchers over at Trend Micro eight Android apps that required subscribers to pay for cloud mining that wasn’t real. Of course, they promised a lot in return, but delivered little more than ads, signing victims up for unwanted subscription services, and other bogus means of ripping off consumers.
Fake Crypto-Mining Apps Inundate the Google Play Store
The cybersecurity firm notified Google about the presence of the malicious apps and the company subsequently remove the fraudulent applications from the Google Play Store. However, this doesn’t mean everyone who downloaded the offending programs avoided the scams. But, it does mean they are no longer lingering on the digital app platform to victimize other Android device owners. Cifer Fang, a mobile threat analyst at Trend Micro:
“Upon analysis, we discovered that these malicious apps only trick victims into watching ads, paying for subscription services that have an average monthly fee of $15, and paying for increased mining capabilities without getting anything in return.”