Between the fall in prices, the resounding bankruptcies of several trading platforms and the countless scams of all kinds in a completely deregulated sector, cryptocurrencies are now plunged into a winter whose duration is unknown. It is in this context that US Senator Sherrod Brown wants to know more about how Apple and Google manage crypto investment apps in their respective stores.
The FBI recently issued an alert on the proliferation of bogus crypto apps developed by cybercriminals to defraud investors. Rogues who are inspired by phishing techniques to catch victims in their nets: their applications display, for example, logos and names similar to those of well-established legitimate actors. But if the owners of bitcoins and other digital assets are caught there (the FBI estimates their losses at 42 million dollars), so are the application stores, as we saw last year:
The App Store does not protect against crypto-slurping parasitic apps
That’s why, in a letter to Tim Cook and his Alphabet counterpart, Sundar Pichai, the senator wants to know about the review process for crypto apps before they are offered for distribution. Sherrod Brown also wants to know more about the various measures taken by Apple and Google to prevent these malicious applications from circumventing store policies.
The two access controllers will also have to detail the actions put in place to warn users of fraudulent activities – real or potential – associated with crypto apps. Another interesting question from the senator: did Apple and Google coordinate to share information about the suspension or removal of a dangerous app? Companies have until August 10 to respond.
Tim Cook owns cryptocurrency and has been into it for a while