172 Fake Android Mining Apps Stole More Than $350K From Users

Lookout found that about 93,000 users paid for 172 non-working Android applications for cloud mining of cryptocurrencies.

Only 25 of the fake apps were sold on Google Play, while others were on the Internet.

Fake apps are basically divided into two types of BitScam (83,800 installations) and CloudScam (9,600 installations), and they were all completely useless.

The scammers earned more than $350,000 from the sale of these applications. For a long time these were not noticed due to the fact that there is nothing malicious in them. Essentially, people were just paying money for non-existent services.

Fake mining applications have been removed from Google Play, but they may still be on other services.

Recently, Ledger came out with a public warning about a new phishing scam sending customers fake hardware wallets for the crypto assets under the name of Ledger Nano. They are equipped with the hardware that steals the assets. 

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