Why it matters: Even though cryptocurrencies like Bitcoin have lost about half their value in the past three months, people still want to make a profit in the industry, and criminals are profiting from it. A security firm has discovered that more than 170 Android apps, some of which are available on the Google Play Store, have defrauded more than 93,000 crypto enthusiasts.
Lookout Threat Lab security researchers discovered that 25 Google Play apps prevented them from being detected because they did nothing malicious. The problem was that they did nothing.
Some scam software
Threat Labs writes that content creators have $300,000 in software sales and an additional $50,000 in crypto from victims to upgrade and pay for fake services, making money. It should also be noted that these programs were so complex that they were probably created by someone who had no programming experience.
While Google has removed fraudulent apps from its store, dozens of other third-party stores are still in circulation - so be careful when you upload them together as usual.
Image Credit: LightField Studios
Fake encoders, some of which can be found in the Play Store, scam users out of 350 thousand dollars