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Bitcoin ETF

April

<p>On Thursday, April 4, tech giant Google filed a lawsuit against a group of scammers for defrauding over 100,000 people worldwide while uploading fraudulent investments and crypto exchange applications on the Google Play Store.</p>
<h3 id="google-goes-strict-against-crypto-scammers">Google Goes Strict Against Crypto Scammers</h3>
<p>With this development, Google took the credit of being the first tech giant to initiate action against crypto scammers while setting up a legal precedence for the protection of users. In its lawsuit, Google notes:</p>
<p>The defendants made “multiple misrepresentations to Google in order to upload their fraudulent apps to Google Play, including but not limited to misrepresentations about their identity, location, and the type and nature of the application being uploaded.”</p>
<p>Google, an Alphabet subsidiary, is pursuing legal action against a group of scammers, invoking the Racketeer Influenced and Corrupt Organizations (RICO) law alongside breach of contract claims. The company alleges that the scammers orchestrated a scheme involving the creation and dissemination of at least 87 fraudulent apps aimed at deceiving users.</p>
<p>Halimah DeLaine Prado, Google’s general counsel, described the lawsuit as an opportunity to combat fraudulent activities within the cryptocurrency space. Speaking to CNBC Crypto World, she further <a rel="noopener noreferrer nofollow" href="https://www.cnbc.com/2024/04/04/google-sues-crypto-scammers-allegedly-uploading-fake-apps-android-app-store.html" target="_blank">emphasized</a> the significant financial impact of cryptocurrency fraud, citing over a billion dollars of losses in the U.S. in 2023 alone. Prado underscored Google’s commitment to protecting users and deterring future fraudulent behavior through legal action.</p>
<h3 id="details-of-the-scam">Details of the Scam</h3>
<p>The lawsuit from <a href="https://coingape.com/google-integrates-bitcoin-data-into-search-engine-indexing/" target="_blank" rel="noopener noreferrer nofollow">Google</a> notes that the scam has been happening since 2019 while identifying alleged scammers as Yunfeng Sun, also known as Alphonse Sun, and Hongnam Cheung, also known as Zhang Hongnim or Stanford Fischer.</p>
<p>The pair purportedly attracted individuals to download their applications from Google Play and various other platforms using three primary tactics: text message campaigns via Google Voice targeting victims primarily in the U.S. and Canada, promotional videos distributed on YouTube and other online platforms, and affiliate marketing campaigns offering user commissions for recruiting others.</p>
<p>According to the lawsuit, Sun, Cheung, and their associates crafted the apps to give the impression of legitimacy, displaying apparent balances and investment returns to users. However, users found themselves unable to withdraw their investments or the profits they believed they had earned.</p>
<p>To instill trust in users, the defendants purportedly permitted initial withdrawals of small amounts of money from the apps, as outlined in the lawsuit. Some users were allegedly informed that they needed to pay a fee or maintain a minimum balance to access their funds, tactics that Google claimed “deceived some victims into further financial losses.”</p>
<h3 id="taking-corrective-measures">Taking Corrective Measures</h3>
<p>Victims who were unable to withdraw their funds alerted Google to the existence of the fraudulent apps.</p>
<p>“We have a dedicated cybersecurity team that continually monitors all our platforms and services for opportunities to enhance user protection,” stated DeLaine Prado. She mentioned that Google sometimes collaborates with law enforcement agencies.</p>
<p>According to the complaint filed by Google, whenever the company removed the fraudulent apps, the scammers promptly created new ones and uploaded them to Google Play. They employed various computer network infrastructures and accounts to conceal their identities and provided false information to Google during the process. Google is also working to allow <a href="https://coingape.com/bitcoin-etf-google-to-start-allowing-etf-related-ads-by-the-end-of-january/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF ads</a> on its platform.</p>
<p>The post <a href="https://coingape.com/google-sues-crypto-scammers-for-defrauding-people-via-fake-android-apps/" rel="noopener noreferrer nofollow">Google Sues Crypto Scammers for Defrauding People Via Fake Android Apps</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Google Sues Crypto Scammers for Defrauding People Via Fake Android Apps

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