Google sues alleged crypto scammers who uploaded fraudulent apps to the Play Store

[midian182]

In brief: Crypto scammers have been around for many years, but Google says it is now doing something never done before: becoming the first tech company to sue some alleged scammers. The lawsuit claims that two app developers based in China and Hong Kong defrauded more than 100,000 people out of sums ranging from $100 to tens of thousands of dollars.

The developers and their associates are accused of uploading 87 fraudulent crypto and investment apps to the Play Store. The alleged scammers, Yunfeng Sun, also known as Alphonse Sun, and Hongnam Cheung, also known as Zhang Hongnim or Stanford Fischer, lured in victims using a form of romance scam that involved sending text messages to targets in the US and Canada. They also used promotional videos posted on YouTube and affiliate marketing in which people were paid commission for signing others up.

Google's complaint notes that the spam messages featured the usual lines, such as "I am Sophia, do you remember me?" or "I miss you all the time, how are your parents Mike?" Anyone who responded would be prompted to move the conversations onto another platform, usually WhatsApp, where they would be encouraged to download one of the fake apps and deposit money. Some were also talked into becoming affiliates who would promote the apps themselves.

The developers made the apps appear convincing by showing users their balances and earnings on investments, but they couldn't withdraw their money. To make the apps appear legitimate, users were occasionally able to withdraw small amounts of money. Sometimes they had to pay a fee to make a withdrawal or were told a minimum balance threshold needed to be met.

When you download a crypto app on the recommendation of a stranger

One of the apps, TionRT, appeared legitimate because of news releases about the app that were published on newswire service websites, the suit said. Any victims who complained to the texters who contacted them about not being able to withdraw their funds were ignored.

Google said that every time it took one of the apps off the Google Play store, the scammers would upload new ones using "varying computer network infrastructure and accounts to obfuscate their identities, and making material misrepresentations to Google in the process."

Google claims the developers broke its terms of service and violated the Racketeer Influenced and Corrupt Organizations Act. The company says expenses relating to investigating the apps, as well as spending on safety and integrity resources, were in excess of $75,000. It is asking the court for a permanent injunction against the defendants and an unspecified amount in damages. Google added that it wants the suit to serve as a precedent to deter future bad actors.

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Google sues alleged crypto scammers who uploaded fraudulent apps to the Play Store

 

[nismo91]

Not a bad move to be honest.

but it would be a whole lot better if Google themselves can reject money coming from scammers who posted ads in both google and youtube. so they're not called a hypocrite.

 

[Dimitriid]

Hey I'm more concerned about the fact that a lot of people still think there is such a thing as a crypto currency that isn't just a pyramid scheme.

 

[m4a4]

Hey I'm more concerned about the fact that a lot of people still think there is such a thing as a crypto currency that isn't just a pyramid scheme.

With such an absolute, you're the one that looks ignorant lol

And I think you were looking for "ponzi scheme". But no, objectively not 100% are (to be absolute), and you can easily see that with the tiniest bit of research....

 

[Squid Surprise]

While the scammers should be punished - I would hope that any revenue gained from such a lawsuit would be passed on to the actual scammed customers.

I suspect this is a preemptive move anticipating a class-action lawsuit against themselves from those same scammed people. After all, shouldn't the Google Play Store have done a better job screening out these malicious apps? At least... I suspect that's what their lawyers will argue

 

[emmzo]

With such an absolute, you're the one that looks ignorant lol

And I think you were looking for "ponzi scheme". But no, objectively not 100% are (to be absolute), and you can easily see that with the tiniest bit of research....

Get off your high horse, buddy, Bitcoin is a Ponzi and by extension they all are. Yes, 100%. We all do our research, unfortunately, these schemes could run for decades, but one thing is guaranteed: they can only go on until every sucker that will ever buy in has already bought in and that hasn`t happended yet.

 

[m4a4]

Get off your high horse, buddy, Bitcoin is a Ponzi and by extension they all are. Yes, 100%. We all do our research, unfortunately, these schemes could run for decades, but one thing is guaranteed: they can only go on until every sucker that will ever buy in has already bought in and that hasn`t happended yet.

No. Just because you FEEL like they are all a scheme, doesn't magically change the fact that they all aren't. Period.

Might as well use that backwards "logic" to convince me that stocks are ALL ponzi schemes too while you're at it

 

[Theinsanegamer]

With such an absolute, you're the one that looks ignorant lol

And I think you were looking for "ponzi scheme". But no, objectively not 100% are (to be absolute), and you can easily see that with the tiniest bit of research....

Split hairs on naming all you want, the crypto market is STUFFED with scams. Remember when that chinese college found 97% of crypto projects were total scams? How many major projects have rugpulled again? There's a new one every week.

BTW, it's not a ponzi scheme. It's a Greater Fool scheme. Bitcoin only has value if someone is willing to pay you more for it then you yourself bought it for. It has no physical asset, no tangible existence, and has no purpose other then to be speculated on. BitCoin is the virtual version of the chinese ghost cities. The number of big names pushing for crypto who have been convicted on securities fraud should be a monument sized red flag.

 

[Squid Surprise]

Split hairs on naming all you want, the crypto market is STUFFED with scams. Remember when that chinese college found 97% of crypto projects were total scams? How many major projects have rugpulled again? There's a new one every week.

BTW, it's not a ponzi scheme. It's a Greater Fool scheme. Bitcoin only has value if someone is willing to pay you more for it then you yourself bought it for. It has no physical asset, no tangible existence, and has no purpose other then to be speculated on. BitCoin is the virtual version of the chinese ghost cities. The number of big names pushing for crypto who have been convicted on securities fraud should be a monument sized red flag.

There are still far more scams involving cheques, cash and stocks…

All forms of currency rely on the beliefs of the users. If enough people believe something has value, then it does.

The scamming has nothing to do with the type of currency: it’s that there are always some bad people who can outsmart stupid/greedy people.

 

[m4a4]

Split hairs on naming all you want, the crypto market is STUFFED with scams. Remember when that chinese college found 97% of crypto projects were total scams? How many major projects have rugpulled again? There's a new one every week.

BTW, it's not a ponzi scheme. It's a Greater Fool scheme. Bitcoin only has value if someone is willing to pay you more for it then you yourself bought it for. It has no physical asset, no tangible existence, and has no purpose other then to be speculated on. BitCoin is the virtual version of the chinese ghost cities. The number of big names pushing for crypto who have been convicted on securities fraud should be a monument sized red flag.

And yet nothing you said is inherently only a crypto problem. Value is based on desirability, any currency (value trading) has it's scams and fools, and crypto as a whole still seems to hurt ignorant people's feelings.

 

[emmzo]

No. Just because you FEEL like they are all a scheme, doesn't magically change the fact that they all aren't. Period.

Might as well use that backwards "logic" to convince me that stocks are ALL ponzi schemes too while you're at it

Here's this guy explaining it easy for you. https://www.linkedin.com/pulse/crypto-literally-ponzi-scheme-needs-shut-down-david-johnston

 

[m4a4]

Here's this guy explaining it easy for you. https://www.linkedin.com/pulse/crypto-literally-ponzi-scheme-needs-shut-down-david-johnston

An opinion piece, one I assume you didn't write, where he too feels like it's a scheme.

Why don't you use your own words. Because I doubt that opinion piece is going to reply to me here

 

[emmzo]

An opinion piece, where he too feels like it's a scheme, and one I assume you didn't write.

Why don't you use your own words. Because I doubt that opinion piece is going to reply to me here

Well, your fast reply means you didn't read it, so, keep stressing that I Feel and you know facts. Time will tell, but I would point out your logic fallacy that crypto is just like any other currency. Sry, it is a speculative asset.

 

[Squid Surprise]

Well, your fast reply means you didn't read it, so, keep stressing that I Feel and you know facts. Time will tell, but I would point out your logic fallacy that crypto is just like any other currency. Sry, it is a speculative asset.

I read it - and I agree with m4 - it’s an OPINION piece… and it’s wrong…
By the way, citing something from LinkedIn to help prove a point rarely works…
Time HAS told - crypto has been around for many years now… and its value has risen far more than any other currencies.
Time has simply passed many people by… new stuff always tends to irk successful old folks - they see a threat to their way of living and lash out.

 

[m4a4]

Well, your fast reply means you didn't read it, so, keep stressing that I Feel and you know facts. Time will tell, but I would point out your logic fallacy that crypto is just like any other currency. Sry, it is a speculative asset.

It was easy to read. But hey, if you're going to try to argue that I couldn't have read that relatively short opinion piece in 2 whole minutes, then that says more about you than me

And it also means we're done here. You're too desperate to defend an opinion that's not even your own (and/or understood by you)...

 

[emmzo]

It was easy to read. But hey, if you're going to try to argue that I couldn't have read that relatively short opinion piece in 2 whole minutes, then that says more about you than me

And it also means we're done here. You're too desperate to defend an opinion that's not even your own (and/or understood by you)...

It was something easy for you pal, an example, not my holy grail. It's great that you're able to read, it's not that good you can't understand.

 

[Squid Surprise]

It was something easy for you pal, an example, not my holy grail. It's great that you're able to read, it's not that good you can't understand.

Perhaps you don’t understand… the “article” claims that crypto is a Ponzi scheme and hedge funds make all the money from it… and describes the net-loss due to resources spent on generating the crypto…

Explain how that’s different from the banks making money with cash?

At least the resources making crypto run come from the people using the currency!

National currencies rely solely on the belief that the nation behind it can back it up. This tends to really suck when that nation goes through a down turn - ask the Germans after World War 1…

 

[emmzo]

What is bitcoin?

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

www.ecb.europa.eu

Perhaps you don’t understand… the “article” claims that crypto is a Ponzi scheme and hedge funds make all the money from it… and describes the net-loss due to resources spent on generating the crypto…

Explain how that’s different from the banks making money with cash?

At least the resources making crypto run come from the people using the currency!

National currencies rely solely on the belief that the nation behind it can back it up. This tends to really suck when that nation goes through a down turn - ask the Germans after World War 1…

Again, Bitcoin, or any other crypto are not a currency, but a speculative asset.
Also, I don't want to explain how banks are better, I hate them as well, but I don't think crypto is going to give me financial freedom, it's an equally centralized game, despite the bombastic claims of defi.

 

[Squid Surprise]

What is bitcoin?

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

www.ecb.europa.eu

Again, Bitcoin, or any other crypto are not a currency, but a speculative asset.

So you’re using a BANK as a source now? Well, it’s certainly better than LinkedIn… but maybe think about whose interest the bank has here?

 

[emmzo]

So you’re using a BANK as a source now? Well, it’s certainly better than LinkedIn… but maybe think about whose interest the bank has here?

The old story, banks hate crypto. Would you like to know how many banks, including the big ones are players in the crypto space? Hell, I would say, without banks it would have never taken off.
Also, a valid point is a valid point whether it's written on LinkedIn, Reddit or YouTube. Here's a great book if you feel books are more adequate: Ben McKenzie Easy Money.

 

[Vanderlinde]

Not a bad move to be honest.

but it would be a whole lot better if Google themselves can reject money coming from scammers who posted ads in both google and youtube. so they're not called a hypocrite.

They are laying off staff, just like META and have it replaced with AI.

Because of that scammers find ways and ways again to infest the advertising network with obvious financial scams.

Reporting does not do anything - I tell anyone to start using adblockers (on the mass) for both Desktop (Ublock) and your mobile phone (Adguard).

You cant trust company's as mentioned above. The 75k in fee's they are demanding is nothing to the financial damage it already had done world wide.

 

[Squid Surprise]

The old story, banks hate crypto. Would you like to know how many banks, including the big ones are players in the crypto space? Hell, I would say, without banks it would have never taken off.
Also, a valid point is a valid point whether it's written on LinkedIn, Reddit or YouTube. Here's a great book if you feel books are more adequate: Ben McKenzie Easy Money.

Of course they hold crypto - because it's NOT a scam, it's actually quite useful and valuable... BUT... it's not in their best interest to have other people use it instead of using THEM. Hence using anything a bank puts out as proof that crypto is a scam is kind of foolish.

Find a genuine article with some evidence and we can talk

 

[emmzo]

Of course they hold crypto - because it's NOT a scam, it's actually quite useful and valuable... BUT... it's not in their best interest to have other people use it instead of using THEM. Hence using anything a bank puts out as proof that crypto is a scam is kind of foolish.

Find a genuine article with some evidence and we can talk

Sam Bankman-Fried FTX was not a fraud, until proven it was, so yeah, nobody can find you proof now. As I said time will settle this debate. But banks not wanting you use crypto is ridiculous. What do you think banks do? Live off transaction fees? No, they will love you using crypto, because their investment will pay off. The biggest amount of money today is made from other money. And 2% of wallets own 90% of Bitcoin. Put this things together. That means a centralized group of interests have control on your unregulated Bitcoins and they can decide what is worth. Besides, do you use Bitcoin for buying stuff or you hold it in the hope it will make you rich someday? That means you don't even use it as a type of currency, but as a store of value. But then, with no intrinsic value do you think all holders will win? So, who loses? Where is that money coming from?

 

[Squid Surprise]

Sam Bankman-Fried FTX was not a fraud, until proven it was, so yeah, nobody can find you proof now. As I said time will settle this debate. But banks not wanting you use crypto is ridiculous. What do you think banks do? Live off transaction fees? No, they will love you using crypto, because their investment will pay off. The biggest amount of money today is made from other money. And 2% of wallets own 90% of Bitcoin. Put this things together. That means a centralized group of interests have control on your unregulated Bitcoins and they can decide what is worth. Besides, do you use Bitcoin for buying stuff or you hold it in the hope it will make you rich someday? That means you don't even use it as a type of currency, but as a store of value. But then, with no intrinsic value do you think all holders will win? So, who loses? Where is that money coming from?

Bernie Madoff wasn't either... people can use ANY currency to scam people.

Crypto IS a currency - here's the definition in case you didn't know.

Here's the dictionary

Definition of CURRENCY

circulation as a medium of exchange; general use, acceptance, or prevalence; the quality or state of being current : currentness… See the full definition

www.merriam-webster.com

I'll sum it up:
Definition 1: circulation as a medium of exchange

--> yes, people exchange bitcoins (and etherium, etc)

Definition 2: something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange

--> Do I even need to explain here?

As it's actually the official currency of El Salvador, that should kind of end the argument... but.. it's also in general use in a TON of countries...

 

[emmzo]

Bernie Madoff wasn't either... people can use ANY currency to scam people.

Crypto IS a currency - here's the definition in case you didn't know.

Here's the dictionary

Definition of CURRENCY

circulation as a medium of exchange; general use, acceptance, or prevalence; the quality or state of being current : currentness… See the full definition

www.merriam-webster.com

I'll sum it up:
Definition 1: circulation as a medium of exchange

--> yes, people exchange bitcoins (and etherium, etc)

Definition 2: something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange

--> Do I even need to explain here?

As it's actually the official currency of El Salvador, that should kind of end the argument... but.. it's also in general use in a TON of countries...

https://www.coindesk.com/markets/2023/03/15/bitcoin-isnt-trading-as-a-currency-but-as-a-speculative-asset-morgan-stanley/

If banks fall, so will Bitcoin...