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US senator grills Apple & Google about fraudulent crypto apps




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A U.S. lawmaker has despatched a letter to Apple and Google asking for clarification on how they stop fraudulent cryptocurrency apps on the App Retailer and Google Play Retailer.

Sen. Sherrod Brown — who chairs the Senate Committee on Banking, Housing, and City Affairs — penned two letters addressed to Apple CEO Tim Cook dinner and Google CEO Sundar Pichai, respectively, on July 27.

In the letter, Sen. Brown asks for particulars on the “measures your organization is taking to stop fraudulent exercise in your app retailer.”

“In recent times, crypto buying and selling platforms and exchanges have skilled a surge in reputation with thousands and thousands of buyers downloading cell apps to commerce and spend money on digital property,” Sen. Brown wrote. “Thousands and thousands of People use cell apps to spend money on unregulated digital property, together with cryptocurrencies.”

Extra particularly, Brown seems to be involved about experiences of “faux crypto apps which have scammed tons of of buyers.”

The senator’s letter comes within the wake of an FBI report detailing fraudulent cryptocurrency apps and wallets that presupposed to be sound funding alternatives. The report warned that 244 buyers had been scammed out of $42.7 million by fraudulent apps.

In his letter, Brown is asking for Apple and Google to offer particulars about their app evaluate processes, the steps they take to stop fraudulent crypto apps, and different info. He has requested each corporations to reply by Aug. 10.

Apple has been slammed by accusations of enabling crypto fraud on its App Retailer prior to now. Again in 2021, a person accused the corporate of permitting a fraudulent app that stole greater than $600,000 price of Bitcoin from him.

The Cupertino tech big has additionally been a goal of fraudsters prior to now. Again in 2020, scammers compromised Apple’s official Twitter account to promote a Bitcoin scheme. Nevertheless, that sort of crypto scheme just isn’t detailed in Sen Brown’s letter, which is concentrated on fraudulent apps and wallets for iPhone and different units.

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