While cryptocurrencies are an opportunity for all of their users, there is a flip side. The popularization of cryptocurrencies in businesses as in exchanges is certainly practical but knows its limits. The principle of blockchain, in fact, is not necessarily understood by all. Also, users of Google Play Store , by downloading certain applications, probably do not measure whether they are facing a legitimate mining application or a scam whose outlines they cannot define.
Trend Micro report behind Google Play Store decision
Trend Micro, a cybersecurity company specializing in monitoring fraud and computer malware, was asked by Google to analyze the applications available on its Play Store. The Play Store Fraud Assessment Report will then have determined a large number of fraud apps in circulation. All related to cryptocurrencies.
This report, from a world-renowned cybersecurity authority, is therefore not to be taken lightly. Because if indeed, a fraudulent application can deceive the vigilance of the one who downloads it, this is primarily due to the fact that it has already been able to deceive the vigilance of the Play Store which offers it.
This indicator tends to demonstrate that, due to the complexity of blockchain technology, even IT experts can be fooled by applications of which they do not necessarily understand all the nuances. Also, if there are a number of fraudulent cryptocurrency-related applications on the Google Play Store, it's a safe bet that competing platforms are also concerned.
Eight fraud apps deleted from the Store
To date, and following Trend Micro's report, Google Play Store recently removed eight crypto apps offered by its services. These applications offered their users to mine cryptocurrency for them for a payment of money to speed up the process.
it was actually just a very classic scam but one which, because it went through the complex channels of the blockchain, was not easy to assess. As proof, even the Play Store of a computer giant such as Google will have had to resort to the expertise of the world's number one computer security to detect the trap.
It has not yet been clarified whether the victims of the scam will get compensation from the Play Store.
There are still 120 fraudulent apps on the Store
These eight cryptocurrency-related fraudulent applications could be the first in a long series. Because, indeed, the Trend Micro report will have in all and for all evaluated the number of fraudulent applications at 120.
For the moment, the Play Store in turn evaluates the veracity of this information and removes from its services the applications recognized as fraudulent. The investigation is progressing slowly but, at the end of it, it is a safe bet that the Google Play Store will not fail to delete crypto applications by the dozen in the coming weeks.