Google declared war on crypto scams as it launched legal action against a group that defrauded more than 100,000 people by distributing fake apps through the Google Play store.
Google Declares War Against Crypto Scams
The lawsuit was initiated by Google in the Southern District of New York. This move represents Google's efforts to combat cryptocurrency scams. Thereby establishing a legal precedent for user protection.
The defendants identified in the lawsuit are Yunfeng Sun (also known as Alphonse Sun) and Hongnam Cheung (nicknamed Zhang Hongnim or Stanford Fischer). Google accused the group of organizing a fraudulent operation by posting at least 87 fake cryptocurrency exchange and investment applications on Google Play.
These individuals provided false information about their identity, location, and nature of the applications.
Fraudulent Application Drama
Seemingly legitimate applications include displaying investment balances and profits. However, users are reportedly unable to withdraw their funds. Some are even tricked into paying additional fees to access their earnings.
The complaint also describes how these scammers spoof. They tried to make their apps legit by allowing small initial amounts to be withdrawn. However, when users withdraw larger investment amounts, they cannot make them.
Google's Response and Strategy
Google has responded to these deceptive practices by strengthening its cybersecurity measures. The company has cooperated with law enforcement and established a team to handle this issue. Thereby identifying and handling problems early.
The company claims to have suffered losses of over $75,000 due to the costs of the investigation and safety improvements. Through this lawsuit, Google seeks compensation and a permanent injunction against the defendants and their partners. All will be banned from accessing Google services or creating accounts.
This lawsuit is part of Google's strategy to protect users. Thereby ensuring platform stability is maintained in the context of increasing online fraud.
