Another Crypto Scam Application on the Google Play Store

Aug 22, 2018 at 22:45 Update Date :Aug 22, 2018 at 22:45 UTC

As per ‘The Next Web’ report, furnished just yesterday, an Ethereum (ETH) Scam Application finds a room in the Google Play Store for androids.

The recent discovery was made by a ‘Slovak’, who is a malware researcher by profession. Lukas Stefanko, in a statement to The Next Web, mentions that he came across the ‘Misleading Ethereum Application’ on the Google Play Store. The media company informs that the scam offered the purchase, priced at an approximate €340 or so.

Lukas tweeted about this fraudulent application on the 20th of August. His tweet read,

“Purchasing the application is not the same as the actual Ethereum Purchase.”

This is a clear suggestion of the recent discovery on the researcher’s part. The offering is nothing but another scam relating to the crypto industry. The major intent was to mislead the consumers and earn money by copying the original Ethereum token whose current worth stands at around €290.

Slovak’s tweet clearly highlights all the details related to his discovery. It can be seen that the application was offered by the name of “Google Commerce Ltd.” The translated version through the ‘Google Translate’, depicts that the application was described as “just a Ethereum and garnered the attention of as much as 100 people in a time period of one year, giving due consideration to the fact that it was last updated on August 14, 2017.

The application, however, is currently unavailable on the Google Play platform. As an effort to generate awareness, the original Google-backed applications on the Play Store carry “Google LLC” as the name of the developer.

Just the past month, the tech giant had put an embargo on a number of applications that belonged to various distinct categories, one of which, were crypto mining applications. Google Play Store permits only those applications that control various operations relating to crypto mining, and not the ones that are actually used for mining crypto tokens.

In addition to this, Google had also announced a ban on all kinds of crypto mining extensions on its Chrome Web Store, earlier this year.

Prior to it, in the month of March, Google stood in full support of the social media platform, Facebook, and prohibited all kinds of advertisements relating to the crypto industry.

However, multiple applications like JSEcoin are still available and accessible on the Play Store, owing their existence to the 30 day time period before the policy changes become officially enforceable.

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