If some of your cryptocurrency-crazy friends seem a little more sheepish than usual today, it may be because they were scammed by bogus Android apps that promised cloud-based mining services — but delivered nothing.
Mobile security firm Lookout revealed this morning (July 7) that it had found more than 170 different Android apps, 25 of which were in Google Play, that “advertise themselves as providing cloud cryptocurrency mining services for a fee.”
But, Lookout researcher Ioannis Gasparis said in the company’s report, “we found that no cloud crypto mining actually takes place.”
“Based on our analysis, they scammed more than 93,000 people and stole at least $350,000 between users paying for apps and buying additional fake upgrades and services,” said Gasparis.
These scams largely went undetected because they’re not malicious. They don’t steal data or install malware. Google’s malware detectors won’t pick them up, and neither will the best Android…