Google Play detected a fake application for mining cryptocurrency XRP, Cardano (ADA) and Tether. But in fact, these apps only pretend to produce virtual coins, because from a technical point of view, mining the tokens is impossible.
Employees of the company Fortinet drew attention to the fact that the application promoted in Google Play as a means for mining scriptaction XRP, Cardano (ADA) and the Tether, but in fact are used only for displaying advertisements.
For example, in the application for mining coins Ripple, you can click “Start” and mining will supposedly begin. During the process, even shows the hash rate, and the counter mined coins slowly increased.
Analysis of the application code shows that the hash rate is a random number and the actual production of the coins is not happening. Print “extracted” means as impossible as the app shows the message: “Error! Check the address of the purse”.
The company Fortinet claim that the app is only used for display advertising. The emphasis is on what users are hoping to earn through mining, will keep application open, and thus succeed to generate income from permanent display advertising.
It should be noted that counterparts of such applications was previously known. In the past a researcher from ESET, Lucas Stefanko (Lukas Stefanko) spoke about the fact that he was able to find similar applications, and applications for cryptogamia and theft of coins from the wallets of users.
Stefanko believes that, together with the changes in the cryptocurrency market, the number of such applications will grow gradually together with the course, as always there will be those who will want to capitalize on the inexperience of ordinary users.
“Now these apps are not as popular as it was at the end of 2017 or January 2018. I have long observed and noticed some correlation between the popularity of fraudulent applications and the dynamics of exchange rate of bitcoin, says Stefanko. Fraudsters is more profitable to develop such applications during the ascent of course and excitement, because people want to enter this topic and didn’t understand”.