EOS Developers Warn Against Fake SimplEOS Wallet App on Google Play

The EOS RIO organization, a group of Brazilian EOS developers, has recently warned its social media followers that fraudsters have launched a fake simplEOS wallet app on Google’s Play Store, presumably to get users’ private keys.

The developers’ warning, first spotted by The Next Web, came with a statement that clarifies that while EOS RIO has done what it can to get the app taken down, users should be aware of the risk involved in downloading wallet apps from Google Play.

Currently, it’s unclear how many users downloaded the malicious app. It appears to have already been taken down from the Play store, however. For the time being, users are advised to only download apps from developers they trust.

This is not the first time third-party EOS-related apps are used to swindle users. YouTube personalities the Hodgetwins have, earlier this year, lost over $8,000 after downloading a fake wallet from Apple’s App store.

Notably, fake cryptocurrency-related apps seem to be abundant on Google’s Play Store. This month, security researcher Lukas Stefanko found that an app called Easy Rates Converter wasn’t just converting currencies for its users.

Once installed, it reportedly installed malware to monitor users’ devices to then create “fake activity” that overlayed legitimate apps like that of cryptocurrency exchange Binance. It would then record their login credentials to steal their funds.

Earlier this year, a fake MetaMask app found on Google’s Play store managed to swindle users out of $2,700 worth of Ethereum’s ether. The app, found by Stefanko, had at a time a few negative reviews from users who claimed to have been stolen.

Google banned cryptocurrency mining apps from its Play Store back in July, in what is believed to be an attempt to stop developers from putting a strain on users’ phones and their resources. An investigation later on found that some were being able to bypass the ban.

While Google’s Play store seems to be more prone to malicious apps, there have been similar cases on the iOS app store. To remain safe, users should search for official announcements detailing the launch of apps, and pay careful attention to other users’ reviews and other red flags.

JPMorgan Chase Accused of Fixing Metal Prices Despite Talk of Bitcoin Market Manipulation

  • Wall Street giant JPMorgan Chase's metals desk has been accused of 'thousands' of trades related to price-fixing.
  • US prosecutors have invoked RICO laws against the bank which are reserved for organized crime rings. 

While the U.S. Securities & Exchange Commission (SEC) and other regulatory bodies have been critical of bitcoin over market manipulation, new reports reveal that JPMorgan Chase is facing allegations of fixing prices for precious metals. 

JPMorgan Chase Price-Fixing

According to a report by Bloomberg on Sept. 16, U.S. prosecutors have invoked the racketeering law (RICO) against JPMorgan Chase’s metals desk, which is being described as a criminal enterprise. For nearly a decade, employees of the trading desk have allegedly engaged in thousands of illegal moves to price-fix precious metals and defraud market investors. 

Assistant Attorney General Brian Benczkowski told journalists, 

Based on the fact that it was conduct that was widespread on the desk, it was engaged in in thousands of episodes over an eight-year period -- that it is precisely the kind of conduct that the RICO statute is meant to punish.

RICO is typically reserved for only the most severe, organized crime rings, with former prosecutors calling it a bold move by the Justice Department against the bank. Prosecutors claim that more than a dozen employees participated in the scheme, with two having already pleaded guilty and cooperating with authorities. 

Crypto supporters have been quick to point out the irony in JPMorgan’s situation. Jamie Dimon, CEO of the Wall Street bank, has been one of the most vocal detractors of bitcoin over the years, famously calling the crypto-asset a “fraud” in Sept. 2017.

 

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