Alphabet Inc., the parent company of Google, has taken legal action against two individuals from China who utilized Google's platforms to promote fraudulent cryptocurrency apps. These apps attracted more than 100,000 downloads through Google Play and YouTube. Google alleges that the defendants engaged in racketeering by conducting numerous acts of wire fraud. The lawsuit was officially filed in a New York federal court without a specific date mentioned. The scam apps were created to deceive users into investing in fake digital assets, preventing them from withdrawing any funds. Despite Google's efforts to remove such malicious apps, many have evaded detection systems. The individuals responsible for uploading these apps have been doing so since 2019. Google's general counsel, Halimah DeLaine Prado, emphasized the importance of this legal action as a means of protecting users and deterring future fraudulent activities.
Google Files Lawsuit Against Chinese Crypto App Operators

by Giorgi Kostiuk
2 years ago

Other news
Robinhood Expands into Stablecoin Yield with New Earn Structure

Robinhood has launched a new Earn structure offering a 7% APY tied to USDG, entering the stablecoin yield market to attract users and enhance engagement.

MEXC Reports Surge in Demand for SpaceX-linked Derivative Products

MEXC reports a significant increase in trading demand for its derivative products linked to SpaceX, highlighting a trend in crypto exchanges offering synthetic exposure to private assets.

Dave Portnoy Reveals Major Losses in Bitcoin Trading

Barstool Sports founder Dave Portnoy reveals significant losses in Bitcoin trading, expressing regrets over his investment decisions.

SEC Reports Stronger Capital-Raising Environment for Q2 2026

The SEC's latest market statistics update indicates a stronger capital-raising environment for Q2 2026, highlighting increased IPO proceeds and its significance for crypto companies.

Farage's Financial Connections to Donor Questioned Amid Lobbying Claims

The investigation into Nigel Farage's lobbying activities reveals his financial ties to billionaire Christopher Harborne, raising concerns about potential conflicts of interest due to a significant undeclared gift before the July 2024 general election.

New Analysis Created Utilizing SEC Data

The report is based on information sourced from the SEC, providing stakeholders with accurate financial insights.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter