Google Cracks Down on Crypto Romance Scammers
Google is taking a stand against crypto scammers who preyed on users through the Play Store. These scammers, allegedly two app developers based in China and Hong Kong, are accused of creating a network of 87 fraudulent cryptocurrency apps disguised as legitimate investment platforms.
Here’s how the scheme unfolded, according to Google:
- Fake Apps: The developers uploaded fake crypto trading apps to the Play Store, tricking users into downloading them.
- Luring Victims: Using a tactic known as “pig butchering” (a term Google avoids in its lawsuit), scammers lured victims through romantic messages and YouTube videos. These messages often started with generic greetings like “Do you remember me?” to establish a connection.
- Fake Profits: Once victims downloaded the apps and invested money, the platforms displayed fake balances and returns, creating a facade of legitimacy.
- Money Trap: However, the apps cleverly prevented users from withdrawing their funds. In some cases, small withdrawals were allowed, but larger amounts faced fees or minimum balance requirements, ultimately trapping the money.
Over 100,000 people fell victim to this scam, losing anywhere from $100 to tens of thousands of dollars each. Google estimates the developers reaped significant profits while Google itself suffered damages exceeding $75,000 in investigating the fraud.
This lawsuit marks a first for Google as it targets the developers directly. Google aims to:
- Hold Scammers Accountable: By suing them, Google seeks to deter future scams and recover damages.
- Protect Users: Taking down the apps wasn’t enough. This lawsuit sends a message that Google actively protects its users from such schemes.
- Maintain App Store Integrity: Fraudulent apps undermine trust in the Play Store. This action reinforces Google’s commitment to a safe app ecosystem.
Google is pursuing legal action against these developers for violating its terms of service and the Racketeer Influenced and Corrupt Organizations Act (RICO). They’re seeking a court order to prevent further fraud and recover unspecified damages.
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