Friday, October 7, 2022
HomeNewsFake Cryptocurrency Mining Apps

Fake Cryptocurrency Mining Apps

Author

Date

Category

Stay Away From Fake Cryptocurrency Mining Apps

Stay away from Fake Cryptocurrency Mining Applications. As the number of people interested in learning cryptocurrency mining increases every day, so has the number of cybercriminals who are actively exploiting people’s interests in mining. And not just by implementing malware to undermine cryptocurrency, but by creating fake Android applications that target those interested in cryptocurrency trading or mining.

Searching for legitimate applications, we recently discovered some deceptive mobile applications that act as cloud applications (detected by Trend Micro as AndroidOS_FakeMinerPay and AndroidOS_FakeMinerAd).

On these fake applications, users are deceived that they can earn cryptocurrencies by investing money in a cloud mining operation. However, following the analysis,

Following some checks, we found that deceptive applications that act as legitimate mining applications deceive victims into pursuing advertisements, paying for subscription services that have an average monthly fee of $ 15, and paying for operating capacity.

And all this without receiving anything in return. Be aware, stay away!

Those looking to exploit crypto are advised to look into whether the application is legitimate and whether it operates under the name of a company that is also registered. Also, folks, wake up, the world is full of droughts, don’t get carried away, and don’t waste time and money without being interested before using those applications.

Fake Cryptocurrency Mining

These apps were later reported to Google Play and immediately removed from the Google Play Store. Listed below are fraudulent applications that are no longer listed in the Play Store:

  • Bitcoin (BTC) – Pool Mining Cloud Wallet
  • Daily Bitcoin Rewards – Cloud Based Mining System
  • Bitcoin Miner – Cloud Mining
  • BitFunds – Crypto Cloud Mining
  • Crypto Holic – Bitcoin Cloud Mining
  • MineBit Pro – Crypto Cloud Mining & BTC miner
  • Ethereum (ETH) – Pool Mining Cloud
  • Bitcoin 2021

Two of the application mentioned above are even paid apps that users need to purchase:

  • Crypto Holic – Bitcoin Cloud Mining costs US$12.99 to download
  • Daily Bitcoin Rewards – Cloud Based Mining System costs US$5.99

OMG!!! You pay to be exploited and stolen.

If you search for “cloud mining” on Google Play, you’ll still find many applications similar to the ones mentioned above. Some of these applications have been downloaded over 100,000 times.

These Applications have no real cryptographic mining capability

By technically analyzing the applications mentioned above, you will come to the conclusion that they have never had a cryptocurrency mining behavior. The mining activity was a fake one, a user interface (UI) of the application that is made through a crypto mining simulation module and which included a counter and some random functions.

Even if these applications are not associated with cloud operations, therefore they do not have any cryptocurrency operating features, and users are fooled by the application interface.

Fake Cryptocurrency Mining

Some of these applications have subscription systems that cause users to pay between $ 14.99 and $ 189.99 for the falsely increased cryptocurrency extraction capability.

For example, the Daily Bitcoin Rewards – Cloud Based Mining System application allows users to improve their cryptocurrency mining capacity by purchasing mining machines from them, for the false induction of a faster gain rate.

Tip: Don’t rely solely on how the application’s user interface is configured and designed, read the application’s terms of use, so you’ll find out for yourself if it’s a simulation/game. On a legitimate mining application, you will never find ads that you are determined to click on that ads. These features are malicious.

 

Source: Trend Micro

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to the Latest News

Loading

Recent posts