US Senator Sherrod Brown sent a letter to the CEOs of Apple and Google demanding the removal of fake crypto apps.
Senator Sherrod Brown sent a letter to Apple CEO Sundar Pichai and Apple CEO Tim Cook demanding the removal of fake crypto apps. sent a letter. Brown wrote the following in his letter:
Millions of Americans use mobile apps to invest in cryptocurrencies and other regulated assets. While crypto applications provide convenience for investors, there are also fake applications where hundreds of investors are defrauded.
In a report by the Federal Bureau of Investigation (FBI), “There are many investors who have been harmed by the conversion of trading platforms into mobile applications using their name and logo.” said. The FBI also 244 crypto investors from these apps victim and associated with these crimes. $42.7 million stated that there was a loss.
Google announced on July 27 that it has made a new policy change, stating that it has taken action regarding this issue. The company announced that it will block deceptive ads along with fake crypto apps.