Online scammers misled at least 93 thousand Android smartphone users by tricking them into purchasing cryptocurrency mining applications. The specialists of the Lookout company spoke about this in their report.
In total, experts counted (PDF) 172 fake programs, which were divided into two families: Bitcam (83,800 installations) and Cloudcam (9,600 installations). Fraudsters presented them as cloud services for the extraction of digital currency.
25 apps from this set were quietly located in the official Google Play Store. Victims could download the rest of the software from third-party sources. In the Lookout report, experts clarify that the fake applications did not come close to having the functionality that the authors claimed.
As a result, the scammers simply stuffed their wallets at the expense of gullible users who bought the applications. In total, they fished out $ 350,000 from the victims ($ 300,000 - through the sale of the applications themselves, another $ 50,000 - through fake updates). Thousands of Android enthusiasts around the world have fallen for the criminals' bait.
“These applications managed to go unnoticed for one simple reason - they did not perform any malicious activity. In essence, this software is an empty shell, behind which there is no functionality, ”explains the Lookout experts.
Moreover, CloudSam and Bittam also offered a subscription if the user, for some reason, could not buy the app from the Google Play Store. By the way, you can pay for fake software including digital currency - bitcoins or Ethereum.
Fortunately, Google has already taken appropriate action by removing all fake programs from the official store. Nevertheless, it should be borne in mind that they are still available on third-party sites.
In total, experts counted (PDF) 172 fake programs, which were divided into two families: Bitcam (83,800 installations) and Cloudcam (9,600 installations). Fraudsters presented them as cloud services for the extraction of digital currency.
25 apps from this set were quietly located in the official Google Play Store. Victims could download the rest of the software from third-party sources. In the Lookout report, experts clarify that the fake applications did not come close to having the functionality that the authors claimed.
As a result, the scammers simply stuffed their wallets at the expense of gullible users who bought the applications. In total, they fished out $ 350,000 from the victims ($ 300,000 - through the sale of the applications themselves, another $ 50,000 - through fake updates). Thousands of Android enthusiasts around the world have fallen for the criminals' bait.
“These applications managed to go unnoticed for one simple reason - they did not perform any malicious activity. In essence, this software is an empty shell, behind which there is no functionality, ”explains the Lookout experts.
Moreover, CloudSam and Bittam also offered a subscription if the user, for some reason, could not buy the app from the Google Play Store. By the way, you can pay for fake software including digital currency - bitcoins or Ethereum.
Fortunately, Google has already taken appropriate action by removing all fake programs from the official store. Nevertheless, it should be borne in mind that they are still available on third-party sites.
