Google sues Play Store cryptocurrency scammer to set legal precedent

Google is the first among major tech companies to begin taking action against cryptocurrency scammers.

Google sues Play Store cryptocurrency scammer to set legal precedent Picture 1

According to Google's allegations, this group created and published at least 87 illegal applications and defrauded more than 100,000 people globally.

Google said its action against cryptocurrency scammers aims to establish legal precedent and corresponding user protections.

The lawsuit was filed in New York City court. According to the complaint, the alleged scammers are identified as Yunfeng Sun (also known as Alphonse Sun), and Hongnam Cheung (also known as Zhang Hongnim or Stanford Fischer). This criminal group has been carrying out the plot since at least 2019.

According to Google's allegations, Yunfeng Sun, Hongnam Cheung and their agents designed fraudulent applications that appeared legitimate. They enticed users to invest, showing them that a balance was being maintained on the app and that they would earn interest on their investment. However, users cannot withdraw any of their investments or profits from those applications.

Micah Soto

Update 05 April 2024