% 0.09
BTC Dominance:
% 0.46
Market Cap:
$2.41 T
% 1.30
Fear & Greed:
74 / 100
$ 66.091
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Google Takes Legal Action Against Crypto Fraud


Google has taken legal action against alleged crypto fraudsters accused of installing deceptive apps on Google Play. The lawsuit, filed in the Southern District of New York, targets Yunfeng Sun and Hongnam Cheung and accuses them of wire fraud that harmed both Google and approximately 100,000 users.

According to the lawsuit, the defendants misrepresented their identity, location, and the nature of their apps in order to deceive Google into allowing them to participate on the platform. These apps claimed to offer high returns on investments in cryptocurrencies and other products, which the lawsuit characterizes as “fictitious.” When users tried to withdraw their funds, they were reportedly asked to pay additional fees to access their purported earnings.

Google’s general counsel, Halimah DeLaine Prado, described the case as an important step in combating fraudulent schemes targeting users. Prado emphasized the importance of using Google’s resources to protect users and set a precedent against such abuses.

Authorities have started to take legal measures to prevent users from being defrauded. However, believing in the importance of the precedent, Google is determined to carry out a serious study on the subject.

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