Fraudulent activities in the cryptocurrency space are still uncontrolled. Companies like Apple and Google provide crypto trading apps. There has been a rise of fake apps from these two as criminals are now creating fake apps, including logos and names.
Apple and Google call for scrutiny
Who provides this original(the logos, access to these companies, etc.) information? This is the motive for the scrutiny of the two companies. The two companies should answer questions about their actions to safeguard investors from fraud. They also should give the way through which they monitor crypto apps. How often they review the process is also a matter of concern. Now is the time to get into the companies and look into whether they are the basis of facilitating cyber criminals.
Apart from romance scams and other false medium exchanges, it is worrying how fake apps exist in the Google and apple stores. Accessibility of the company’s logo by criminals proves that the companies might have a hand in the fraudulent deals. It is worrying that the prevalence of fraud grows even in times of crypto price decline. Crypto apps offer investors an easy way of trading, and a lack of trust may lead to withdrawal. Severally questions on the matter, but the two haven’t given an answer, and they have until early August to respond. There is hope for a future in crypto, and scammers should be stopped before they lead to the death of crypto.
What can Google and Apple do?
The two companies can inform investors how to trade safely with crypto apps. There should be a manner in which an investor is alerted of fishy apps. Reviews of trading apps to safeguard investors should be a regular activity. This is because scammers look for new ways each day. The technology developers are reliable in providing the best for the betterment of crypto.
Meanwhile, digital currencies will have nowhere to lean on when they seem untrustworthy. In conclusion, put under scrutiny, the two will amend their procedures for monitoring crypto apps. They will also give an account of what they have done before concerning the matter. Scrutinising the companies is a big step towards eliminating criminals because any weak inks will come to an end. Google and Apple are the bases for crypto operations, so the need for examining the apps has risen.
