Google Takes Legal Action Against Alleged Crypto Scammers

BySaadat Qureshi
04/04/2024 | (Last Updated on 04/04/2024)

3 Min Read | Fact Checked

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Google Fights Back Against Crypto Scammers

Google has taken a bold step in the fight against cryptocurrency scammers by suing two individuals accused of using its Play Store to deceive users. The alleged scammers, based in China and Hong Kong, are said to have uploaded a total of 87 fraudulent apps that promised cryptocurrency trading and investment opportunities. However, instead of delivering on their promises, these apps simply took users' money, resulting in substantial financial losses for unsuspecting victims.

According to Google, more than 100,000 people fell victim to this elaborate scheme, with individual losses ranging from $100 to tens of thousands of dollars. The company emphasizes that it was the first among its peers to take legal action against such fraudulent activities. Upon discovering the scam, Google promptly removed the fraudulent apps from its Play Store to protect its users from further harm.

• The accused scammers utilized a type of romance scam known as “pig butchering” to lure users into their fraudulent schemes.
• Google alleges that the scammers and their associates have been running versions of this scam since at least 2019.

How the Cryptocurrency Scam Unfolded

Google's lawsuit sheds light on the intricate workings of the alleged cryptocurrency scam orchestrated by the two developers. The scam involved creating fake cryptocurrency exchange and investment apps that were falsely presented to the Play Store as legitimate investment platforms. By misrepresenting key details such as their location, the scammers were able to upload these deceptive apps without detection.

Once the fraudulent apps were in place, the scammers employed a combination of romance scam messages and YouTube videos to attract users to their platforms. These initial messages, reminiscent of common text spam tactics, aimed to establish a rapport with users before persuading them to download the fraudulent apps and invest money into them.

In some instances, the scammers went a step further by convincing victims that they could earn commissions by becoming affiliates of the platforms. This added layer of deception deepened the financial losses suffered by unsuspecting users who fell prey to the scam.

Google's Legal Response

Google is seeking justice for affected users by accusing the developers of violating its terms of service and the Racketeer Influenced and Corrupt Organizations Act. The company is determined to hold these bad actors accountable and prevent further fraudulent activities that threaten the integrity of its app store.

In addition to seeking damages for the economic losses incurred during the investigation of the fraud, Google aims to send a clear message that it will aggressively pursue those who seek to exploit its users. By taking a proactive stance against crypto scammers, Google sets a precedent for other tech companies to follow suit in protecting their user base from similar fraudulent schemes.

As the legal battle unfolds, Google remains steadfast in its commitment to upholding the trust and security of its users, reinforcing its position as a responsible tech giant that prioritizes user safety above all else.

Saadat Qureshi

Hey, I'm Saadat Qureshi, your guide through the exciting worlds of education and technology. Originally from Karachi and a proud alum of the University of Birmingham, I'm now back in Karachi, Pakistan, exploring the intersection of learning and tech. Stick around for my fresh takes on the digital revolution! Connect With Me