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
The Role of Systematic Exits in Futures Trading

Establishing systematic exit strategies is crucial for capital preservation and effective risk management in futures trading.

Plasma XPL Price Shows Early Signs of Recovery

Plasma XPL price shows potential signs of recovery as buyers begin to step back in after a month of pressure.

SOL Price Rebounds After Recent Market Turbulence

Solana's native token SOL has shown signs of recovery after dropping to weekly lows.

AI Revolutionizes Currency Markets and Impacts US Dollar Stability

Artificial intelligence is transforming how currency markets operate, particularly affecting the US dollar's stability and trading dynamics.

Geopolitical Events Redefine Financial Risk Management Strategies

Modern global markets are facing unprecedented volatility driven by geopolitical events, supply chain disruptions, and persistent inflation, leading to a redefinition of financial risk management strategies.

Tether Partners with Da Nang City to Enhance Digital Governance

Tether has signed a memorandum of understanding with Da Nang City, Vietnam, to enhance digital governance through blockchain technology.

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