Now iâm not sure if this recent Ethereum scam is genius, or just preying on gullible, but essentially whatâs happened is someone has created an app for the Google Play store, that means the page for the app looks as if users can purchase single Ethereum tokens through Google Play, for the value of â¬335.00, which is actually more than the value of Ethereum on a real exchange at the time of the âsaleâ.
Itâs hard to explain, however hereâs an image of the âsaleâ taken from malware researcher Lukas Stefanko on Twitter, see the original tweet here - @LukasStefanko
Now to you and me, this is an obvious scam isnât it. Even so though, the scam managed to convince over 100 users to attempt to purchase âa Ethereumâ from Google Play. Most concerningly, the company that published the âsaleâ have called themselves Google Commerce Ltd, making it look a little more legitimate to the lay user.
Google Commerce Ltd are a real company by the way, but obviously arenât the people behind this scam.
In case youâre wondering what these users actually purchased with their â¬335.00, it was a low resolution version of the Ethereum logo and nothing more. Lukas Stefanko said:
âBuying Ethereum app is not the same as buying #Ethereum. Scam app for â¬335 only displays ETH logo.â
This is savage and really highlights just how cryptocurrency can be used to mislead people. The worrying thing here is that this somehow managed to be allowed on the Google Play store. Indeed, the scam has now been taken down but the simple fact it got there on the first place highlights some of the problems with Googleâs lack of a screening process when it comes to third-party applications. Instead, Google simply just donât recommend the apps, but still allow them up there in the first place.
How to avoid scams like this.
Donât buy cryptocurrency off Google Play, itâs as simple as that.