Fake Mobile Cryptocurrency Wallet Apps Found on Google Play Store

A recent discovery shows the presence of phony cryptocurrency wallets found on the Google Play Store. The fight against malicious apps seems not to be ending any time soon.

 

Fake Wallets: The Latest Scheme by Cryptocurrency Thieves

According to The Next Web, European cybersecurity researcher, Lukas Stefanko, discovered that four fake virtual currency apps claimed to offer wallet services for NEO, MetaMask, and Tether.

Further findings by Stefanko revealed that the fake apps divided into two groups – phishing and plain counterfeit wallets. The fake MetaMask app fell into the phishing category. After the user installs the fake app, it would request for the user’s sensitive details such as private keys and wallet password. Provision of these details would cost the victim his/her virtual coins.

A screenshot by Stefanko showed that the fake MetaMask app had over 500 downloads and a 2.8-star rating by 48 reviewers. The real MetaMask app, however, does not have any app on the Google Play Store but is a web browser extension for Mozilla Firefox, Google Chrome, and Opera.

In contrast, the other group consists of fake wallets, and this is the category into which the other three fake wallets fall. Two of them masqueraded as NEO wallets, while the third pretended to be a wallet for Tether.

The fake apps display the scammer’s public address without access to the private key for the user, as the scammer owns the private key. Any cryptocurrency fund deposited into the fake wallet directly goes to the attacker’s wallet. The user cannot withdraw funds because he/she does not possess the private key.

Furthermore, research showed that the scammers used AppyBuilder, a drag and drop mobile app builder platform, to create the fake apps. Anyone can use the app builder, as coding skill is not a requirement. The number of scammed victims cannot is unclear. Google has, however, removed the fake wallets from its Play Store.

Tech Companies Going Hard on Cryptocurrency

Recently reported was the presence of a fake EOS wallet on Google Play Store. This was the latest attempt by hackers to steal funds from unsuspecting victims. A Brazilian developer company discovered and reported the malicious app to Google who promptly removed the app.

In August, there was also a report another scam app on the Android Google Play Store. Victims paid $390 to an app that called itself “Ethereum,” that claimed to sell one Ethereum for the exorbitant amount. What they got was a picture of the Ethereum logo.

In Q3 of 2018, Google announced the ban of mobile virtual currency mining from Play Store. This was in addition to its earlier mining script ban.

The American tech giant, Apple Inc., also updated its developer guidelines. Part of the new rules banned iPhone users from mining cryptocurrency.


Source
Author:  Osato Avan-Nomayo
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Origin Is Rolling Out a Decentralized Messaging App Built on Ethereum

Origin Protocol, a blockchain project building a decentralized marketplace, has rolled out a peer-to-peer messaging application built on top of ethereum.

LIONBIT

The project wrote in a blog post on Wednesday that the open-sourced messaging function is now up and running on its marketplace demo, creating an encrypted communication channel between buyers and sellers.

The technology works by utilizing users’ ethereum addresses as a public ID for sending and receiving text messages, while the content itself is encrypted via users’ private keys. However, the post adds, since the data will not be broadcast to the ethereum network, sending messages will not incur “gas” fees as normal transactions on ethereum would do.

Further, messages will be stored using the Interplanetary File System (IPFS), a technology that distributes data across a web of computers and can link to information on a blockchain.

TIP

Since a decentralized marketplace may experience disputes between buyers and sellers, the app adopts the ERC-725 standard, which links identity to a specific ethereum address and also allows a third-party arbitrator to audit conversation histories once granted permission by one of the participants.

Origin indicted that, besides sending text messages, it plans to extend the peer-to-peer communication tool to support multimedia content and machine-readable messages between decentralized applications.

The app launch comes after Origin raised $6 million via an initial coin offering in June.

As previously reported by CoinDesk, several other organizations have revealed plans to develop blockchain-based messaging applications, including cryptocurrency exchange Coinbase and the U.S. Department of Defense.


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Author: Wolfie Zhao
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Peoples Token

Singapore Airlines’ Blockchain-Based Loyalty Program Takes Off

Singapore Airlines has officially launched its blockchain-based loyalty program for frequent customers.

KrisPay, a digital wallet developed in partnership with KPMG and Microsoft, allows Singapore Airlines customers to turn travel miles into units of payment, which can be used with partner merchants in Singapore. Most notably, however, the newly dubbed KrisFlyer program utilizes a blockchain to underpin its clients’ loyalty wallets, according to a press release.

Customers who sign up with the program will be able to download an app to a mobile phone. These customers will then be able to convert their miles into KrisPay units and pay with them by scanning a QR code at partner merchants.

The company announced 18 partners in Singapore, including eateries, beauty parlors, gas stations and some retailers,including the nation’s LEGO store outlets. More partners are expected to sign up soon, and the airline says it will offer discounts for early users.

The airline first announced its new blockchain service in February, after conducting a successful proof-of-concept trial with KPMG and Microsoft. The announcement comes a week after the airline was dubbed  it was announced the best airline in the world, winning the World Airline Awards by Skytrax in London. This year, SIA outpaced Qatar Airlines, the 2017 winner.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Anna Baydakova
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Google Cloud Launches Blockchain Toolkit for App Developers

Developing blockchain solutions for enterprise clients just got easier for Google Cloud users, thanks to a collaboration between the computing giant and a distributed ledger technology (DLT) startup led by former JPMorgan executive Blythe Masters.



Announced on Monday, the partnership will see Digital Asset provide a software development kit (SDK) to developers working on Google Cloud, enabling them to test and build blockchain applications without having to code the entire platform themselves.

Leonard Law, Head of Financial Services Platform at Google Cloud, said in a statement that DLT has “great potential” for customers in a number of industries.

“DLT has great potential to benefit customers not just in the financial services industry, but across many industries, and we’re excited to bring these developer tools to Google Cloud.”

“We’re partnering with Google Cloud to provide developers with a full stack solution so they can unleash the potential for web-paced innovation in blockchain,” added Blythe Masters, CEO of Digital Asset and the former CFO of JPMorgan’s investment bank. “This will reduce the technical barriers to DLT application development by delivering our advanced distributed ledger platform and modelling language to Google Cloud.”

Ultimately, though, Digital Asset hopes that the collaboration will drive more developers to its Digital Asset Modeling Language (DAML) platform-as-a-service (PaaS) program, which will now be available through Google Cloud’s Orbitera application marketplace.

Armed with these products, the company boasts that developers will have access to an “end-to-end toolkit to build and deploy sophisticated distributed applications.”

Google is just the latest cloud computing provider to deploy tools for blockchain developers.

Earlier this year, Amazon Web Services (AWS) introduced blockchain templates for Ethereum and enterprise platform Hyperledger Fabric (of which Digital Asset was an initial contributor). As with the new collaboration between Google Cloud and Digital Asset, the AWS blockchain templates allow developers to create and deploy DLT applications without having to write the underlying source code from scratch.

More recently, Oracle announced that it will introduce a PaaS blockchain product by the end of July and will begin rolling out DLT applications in August.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Josiah Wilmoth
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