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Several fake cloud-mining apps have been identified in Google Play Store that mostly focus on delivering expensive subscription services, according to Trend Micro.
The applications address users new to cryptomining and were designed to get people to invest in cloud mining operations. The apps did not perform actual mining activities, but rather simulated mining activities by using a local module, as it was clearly specified in an app’s Terms of Use. Needless to say that some contained malware like FakeMinerAd and FakeMinerPay.
The following apps are currently banned from Google Play store:
- Ethereum (ETH) – Pool Mining Cloud
- Bitcoin 2021
- MineBit Pro – BTC Miner & Crypto Cloud Mining
- Crypto Holic – Bitcoin Cloud Mining
- Daily Bitcoin Rewards – Cloud Based Mining System
- Bitcoin (BTC) – Pool Mining Cloud Wallet
- BitFunds – Crypto Cloud Mining
- Bitcoin Miner – Cloud Mining
The fact that some of these apps, such as BitFunds, have been downloaded more than 100,000 times suggests that victims continue to believe they are legitimate and may fall for the scam. Two apps took a step further by forcing users to invest money: Daily Bitcoin Rewards – Cloud Based Mining System is available for $5.99, while Crypto Holic – Bitcoin Cloud Mining can be purchased for $12.99.
While Google has reportedly eliminated 8 of them, a simple search using the cloud mining keyword reveals numerous malicious programs of the same type. Some applications continue to operate under the guise of bitcoin mining, asking users to pay for purportedly advanced mining features, a service that ranges from $14.99 to $189.99 per month.
How to spot a fake crypto mining app
Trend Micro strongly advises users to pay attention to the app descriptions and check whether reviews appear genuine. Fake apps will get many good reviews, but 1-star ratings out of the blue should raise doubts about the apps’ legitimacy. Another thing to look for is the invalid crypto wallet address, as fake apps will not check for a real wallet.
Take note that legitimate apps always have withdrawal fees, so no charges means there’s a good chance it’s a fake. A final step to ensure that a mining app is legitimate is to restart the phone or app while mining. If the counter of mined coins resets to zero, it means that the app is fake.
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