• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Google's Legal Action Against Distributors of Fake Crypto Apps

user avatar

by Giorgi Kostiuk

2 years ago


Google recently took legal action against scammers who allegedly distributed fraudulent cryptocurrency applications through its Google Play store. The lawsuit was filed in the Southern District of New York on April 4, emphasizing Google's commitment to combatting crypto scams and protecting users from deceptive practices.

The lawsuit targets Yunfeng Sun and Hongnam Cheung, accused of uploading 87 counterfeit apps on Google Play and providing misleading information about their identities and the apps' functions. Google's general counsel, Halimah DeLaine Prado, highlighted the lawsuit's importance in addressing crypto fraud, which has led to significant financial losses in the United States.

The legal action includes civil claims under the Racketeer Influenced and Corrupt Organizations (RICO) Act and breach of contract allegations. The defendants used various tactics like text messaging campaigns, online videos, and affiliate marketing to attract users to their fake apps, causing users to lose funds and face difficulties in withdrawing their investments.

Google has ramped up its cybersecurity efforts by collaborating with law enforcement and creating a specialized team to tackle fraud. The company incurred over $75,000 in expenses due to investigative actions and security enhancements. Google seeks damages and a permanent injunction against the defendants to protect its users and maintain platform integrity amidst the increasing prevalence of online scams and cybersecurity threats.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin and Ethereum Show Divergent Exchange Netflow Trends

chest

This week, Bitcoin and Ethereum have shown strong divergence in their exchange netflow trends, with Bitcoin experiencing significant net withdrawals and Ethereum seeing increased interest among investors.

user avatarKofi Adjeman

HKMA Warns Public About Unregulated Yunbo and Stablecoin Promotions

chest

The Hong Kong Monetary Authority (HKMA) has issued a warning about unregulated promotions by Yunbo Holdings and stablecoins, emphasizing consumer protection and the absence of stablecoin licenses.

user avatarNguyen Van Long

Regulatory Pressure on Upbit Dates Back to 2024

chest

Upbit has faced ongoing regulatory scrutiny for KYC violations, with similar warnings issued in November 2024. This current suspension underlines a pattern of enforcement escalation by South Korean financial authorities.

user avatarSatoshi Nakamura

Upbit Halts ID Verification Amid KYC Scrutiny

chest

Upbit has temporarily suspended identity verification using resident registration cards due to KYC/AML breaches amid regulatory scrutiny.

user avatarJesper Sørensen

XRP Withdrawals from Upbit Resume After Long Pause

chest

XRP withdrawals from Upbit have resumed for the first time since 2023, indicating a shift in market behavior.

user avatarRajesh Kumar

Kamino Introduces Fixed-Rate Lending Platform at Solana Breakpoint 2025

chest

Kamino announces the launch of a fixed-rate lending platform in partnership with FalconX at the Solana Breakpoint conference, aimed at enhancing institutional-grade funding on the Solana blockchain.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.