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Home News

Google Fights Crypto Fraudsters

April 5, 2024
Reading Time: 2 mins read
in News
Google Fights Crypto Fraudsters

Google has initiated legal action against two developers for allegedly creating fraudulent cryptocurrency investment applications. Yunfeng Sun and Hongnam Cheung, based in Shenzhen and Hong Kong respectively, are accused of developing and distributing 87 apps facilitating cyber fraud. These apps were utilized in “pig butchering” scams, a social engineering tactic where victims were convinced to invest in seemingly legitimate platforms.

The lawsuit, filed in the Southern District of New York, details how the defendants or their agents engaged victims primarily in the United States and Canada through Google Voice messages, initially posing as wrong-number texts. Once trust was established, victims were persuaded to download investment apps and deposit funds, which were subsequently unrecoverable upon withdrawal attempts. The defendants allegedly circumvented Google’s app review processes with false information about their identity and the nature of their applications.

Furthermore, the lawsuit reveals the defendants’ creation of a company targeting Ghanaians, known as the Starlight Project, enticing users to download an app promising earnings through simple tasks. In reality, users were required to deposit funds but couldn’t withdraw them, illustrating a pattern of deception. Google alleges that at least 100,000 users downloaded these fraudulent apps, highlighting the widespread impact of online investment fraud linked to transnational criminal networks.

Reference:
  • Google Sues Developers Over Fraudulent Crypto Apps
Tags: April 2024Cyber NewsCyber News 2024Cyber threatsCybersecurityGoogleHong KongHongnam CheungShenzhenYunfeng Sun
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