Vincent D’Angelo’s Post

Google Takes Legal Action Against App Developers Over Cryptocurrency Investment Scam Google has initiated legal proceedings against two app developers accused of orchestrating an "international online consumer investment fraud scheme," which targeted unsuspecting users by offering fake cryptocurrency investment opportunities via Android apps available on the Google Play Store and other platforms. The lawsuit, filed by Google, alleges that Yunfeng Sun (also known as Alphonse Sun) and Hongnam Cheung (aka Zhang Hongnim or Stanford Fischer), based in Shenzhen and Hong Kong respectively, were behind the operation. These individuals purportedly uploaded approximately 87 fraudulent crypto apps to the Play Store since at least 2019, leading to financial losses for over 100,000 users. According to Google's complaint, the scam involved enticing users with promises of high returns, only to request additional fees and payments when users attempted to withdraw their funds, thereby perpetuating the fraudulent scheme. While such scams are commonly referred to as "pig butchering," Google clarified that it does not endorse this term, which symbolizes the fattening of victims for financial gain before exploiting them. To lure victims, the defendants allegedly employed tactics such as Google Voice text messages targeting users in the U.S. and Canada, affiliate marketing campaigns, and YouTube videos promoting the fake investment platforms. While Google's efforts aim to mitigate the impact of such scams, it's important to recognize that similar fraudulent apps have also infiltrated other app platforms, indicating the broader challenge the mobile app ecosystem faces. Find out more: https://lnkd.in/dZ76BFNV #Google #CryptocurrencyScam #LegalAction #OnlineFraud #ConsumerProtection #AppSecurity #GooglePlayStore #InvestmentFraud

Uniswap Founder Warns of New Scam Targeting Crypto Wallet Users According to CryptoPotato, Hayden Adams, the founder of Uniswap, has warned the crypto community about a new wave of scams targeting users through deceptive user interfaces (UIs) in crypto wallets. Scammers are leveraging fake clones of Ethereum Name Service (ENS) domains to deceive users and potentially siphon funds. Adams expressed his concern on social media, stating that it was the first time he had seen this scam and wanted to alert users and interfaces. The scam involves the fraudster purchasing an ENS domain that closely resembles a legitimate Ethereum address but substituting alphabetic characters with alphanumeric sequences. When unsuspecting users input the genuine Ethereum address into their crypto wallet UIs, these interfaces display the scammer’s address as the primary result instead of the intended recipient’s. This could lead users to send funds to the scammer’s address unknowingly. Adams stressed the importance of interfaces integrating filters to tackle these scams and advised users to proceed cautiously. Following the post, Nick Johnson, the founder of ENS, expressed his view that interfaces should refrain from autocompleting names altogether, deeming it excessively risky. He noted that such a practice is discouraged in their user experience (UX) guidelines. ENS is a domain name system built on the Ethereum blockchain that enables users to substitute intricate Ethereum addresses with more user-friendly and understandable names such as 'myname.eth'. Scammers have previously used ENS domains to mimic major exchanges’ wallets by using a single address to register multiple ENS domains that closely resemble the hexadecimal addresses of highly active addresses. The primary aim is to intercept payments directed to these mimicked addresses, exploiting the feature of many wallets supporting ENS domains as valid destinations for asset transfers. As a result, users risk unknowingly sending assets to these fake domains with a single misclick. Disclaimer: Includes third-party opinions. No financial advice. #crypto #cryptonews

Google Ads is being used to promote fraudulent cryptocurrency websites, putting consumers at risk of phishing. A study claims that scammers have impersonated the over-the-counter (OTC) cryptocurrency marketplace Whales Market and promoted it with sponsored adverts on Google search results. Users are drawn to the compromised website by appearing as a sponsored advertisement on Google search results. Despite having an authentic-looking domain name at first, it ultimately takes users to a phony website rather than the real one. The counterfeit Whales Market website impersonates the authentic one in an attempt to fool people into linking their virtual wallets. Malicious scripts are activated once a connection is made, depleting victims' cryptocurrency holdings from their wallets. Check Point Research uncovered a cryptocurrency scam in November 2021 that involved hundreds of thousands of dollars pilfered through phony Google Ads. These advertisements, which mimic popular wallets such as Phantom App, MetaMask, and Pancake Swap, lead viewers to phony websites that closely resemble authentic wallet websites. Users who entered their wallet passwords without thinking were left open to theft. This event shows that, despite Google's efforts to stop cryptocurrency fraud, there are still problems with scammers exploiting its platform to carry out these kinds of operations. The business sued two Chinese citizens earlier this month for using the Google Play store to trick customers into believing they were investing in cryptocurrency. Over the previous four years, Google disclosed that it had removed 87 phishy apps linked to the individuals, which had amassed almost 100,000 downloads globally. . . . . #google #playstore #cryptocurrency #ads #phishing #scams #cryptocrime #cryptostan #thecryptocountry

🚨 BTC Markets Scam Alert🚨 In our commitment to keeping you informed about the latest scams, we emphasise the importance of maintaining vigilance against fraudulent activities. Remember: -We will never DM you first: Official representatives from BTC Markets will never direct message you via socials to ask for sensitive information or to provide support. If in doubt or need help, please submit a ticket directly via our official website at www.btcmarkets.net -Stay informed: read our Compliance conversations blog for common scams: https://lnkd.in/gt9_3xZf -Official links only: To ensure that you're interacting with our official accounts, confirm you are using the following URLs: Website: www.btcmarkets.net X: https://lnkd.in/g22qpEzZ Linkedin: https://lnkd.in/g4E9ZjXg Facebook: https://lnkd.in/gJHxPFuP Instagram: https://lnkd.in/g5nM4aXk #fraudulentactivity #scams #crypto #cryptocurrency

🚨 BTC Markets Scam Alert🚨 In our commitment to keeping you informed about the latest scams, we emphasise the importance of maintaining vigilance against fraudulent activities. Remember: -We will never DM you first: Official representatives from BTC Markets will never direct message you via socials to ask for sensitive information or to provide support. If in doubt or need help, please submit a ticket directly via our official website at www.btcmarkets.net -Stay informed: read our Compliance conversations blog for common scams: https://lnkd.in/gt9_3xZf -Official links only: To ensure that you're interacting with our official accounts, confirm you are using the following URLs: Website: www.btcmarkets.net X: https://lnkd.in/g22qpEzZ Linkedin: https://lnkd.in/g4E9ZjXg Facebook: https://lnkd.in/gJHxPFuP Instagram: https://lnkd.in/g5nM4aXk #fraudulentactivity #scams #crypto #cryptocurrency

🚨 Breaking News 🚨 Google has filed a lawsuit against two Chinese nationals for orchestrating a cryptocurrency scam through its Google Play app store. The scheme, dating back to 2019, allegedly defrauded thousands of users. Learn more about the legal action and Google's commitment to protecting users online. #Google #CryptocurrencyScam #LegalAction #CyberSecurity Google https://lnkd.in/eKqGyYzW

Another thing to lose sleep over... "Wallet drainers" that automatically and quickly shift all the crypto in one wallet to another one. Like most tools, there are both malicious and bona fide uses for crypto drainers and you can find a bunch on GitHub (also NFT drainers, see: https://lnkd.in/ek8_CNnm). However, criminals can and do also combine them with phishing attacks to rapidly steal victim's crypto assets. More on wallet drainers here: https://lnkd.in/ezxWJR-t. Security advice: Don't use wallet-enabled browser profiles for normal internet browsing. *Use a hardware wallet!* #cybersecurity #cryptocurrencies #crypto #bitcoin #ethereum #nfts

Co-founder and CTO of Samourai Wallet Arrested, Set for $3M Bail William Lonergan Hill, co-founder and CTO of the crypto mixer Samourai Wallet, was arrested in Portugal at the request of US authorities. Hill will be released on $3 million bail and plans to contest the charges of conspiracy to operate an unlicensed money transfer business and money laundering, which carry a potential sentence of up to 25 years. His colleague, Keonn Rodriguez, faces similar charges. The US Department of Justice claims the pair earned millions from transaction fees linked to darknet marketplaces, fraudsters, and hackers. US authorities have seized Samourai's web servers and domain and ordered its removal from Google Play. Hill denies all charges. The defense argues that Samourai Wallet was available on Google Play from May 2015 to April 2024, and if it was intended for money laundering, Google could be seen as an accomplice for offering it to nearly 4 billion Android users worldwide. The money laundering conspiracy charge hinges on the claim that Samourai Wallet lacked a money transfer license, contradicting the Financial Crimes Enforcement Network (FinCEN) guidance at the time. If Samourai Wallet was not considered a money transfer business, it was not obligated to prevent money laundering under the Bank Secrecy Act. #CryptoNews #SamouraiWallet #WilliamHill #MoneyLaundering #CryptoRegulation #Blockchain #FinTech #LegalNews #Darknet