Are cryptomining applications legitimate?

There is no scam or suspicious activity associated with Bitcoin Miner. It is completely legitimate and safe software. Unlike the vast majority of malicious apps, fake cryptocurrency mining apps don't necessarily engage in suspicious activity. They focus on attracting users to make payments in some form, which seems legitimate, but you won't get any of that.

Lookout released a detailed report this week on malicious crypto-mining applications. Its security researchers identified more than 170 fraudulent apps that claim to provide cloud cryptocurrency mining services for a fee. Actually, they don't extract anything, but they'll take your money. Users are paying with the belief that they are mining cryptocurrencies.

Actually, they don't get anything. Trend Micro also suggests that users try to enter the wrong cryptocurrency wallet address in these applications. The apps disguised themselves as cryptocurrency mining apps that performed cloud mining operations, and some of them even found a list in the Play Store finance category. We recently discovered eight misleading mobile apps posing as cryptocurrency cloud mining apps (detected by Trend Micro as Androidos_FakeminerPay and Androidos_Fakeminerad), where users can earn cryptocurrencies by investing money in a cloud mining operation.

Everyone wants a piece of the pie, so it's no surprise that dozens of cryptocurrency mining apps have been released for Android. The volatility of the cryptocurrency market is not only the risk that those interested in cryptocurrency mining will also be aware of fraudulent cryptocurrency mining applications. The report further claims to have found more than 120 fake cryptocurrency-based apps in the Google Play Store with more than 100,000 downloads. Cryptocurrencies have been huge for years, but digital assets have now become widespread.

Cudo's mining platform includes an easy-to-use desktop application and a dedicated web console for monitoring, remote management and optimization. But as with anything in the crypto space, do your own research (DYOR), interact with the community on telegrams and message boards, and choose the one that suits you best. However, the scariest thing of all is the fact that Lookout found 25 of the apps in the Google Play store. As tempting as it may seem, you still need to be wary of cryptocurrency mining scams targeting Android users.

Another way to find out if the cryptocurrency mining application is fake, is to put a random set of letters and numbers in the address section of the cryptocurrency wallet. The application called Daily Bitcoin Rewards - Cloud-based mining system drives its users to improve their crypto mining capability by “buying their favorite mining machines to earn more coins at a faster rate. Payments are made through in-app purchases from Google Play, so you may think that everything related to this payment is legitimate. We recently discovered eight misleading mobile apps posing as cryptocurrency cloud mining apps where users can earn cryptocurrency by investing money in a cloud mining operation.

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