Chinese Fake Lending App Racket Used Crypto, Apple and Google Asked About Crypto App Review and Approval

The Cyber ​​Cell Division of the Bandra Kurla Complex Police in Mumbai has learned from the 14 people arrested in connection with the fake loan app scam involving Chinese nationals that they had converted the extorted money into cryptocurrency. currency and then transported it out of India. So far, police suspect that around Rs 350 crore has been moved overseas using cryptocurrencies by these fraudsters, TOI reported.

In other news, Sherrod Brown, Democratic Party Senator from Ohio, USA, asked Apple and Google to explain their process for reviewing and approving crypto apps in light of the fact that many people get scammed due to fake crypto apps.

“Cryptographic mobile apps are publicly available through app stores, including Apple’s App Store. While cryptocurrency apps have offered investors easy and convenient ways to trade cryptocurrency, there have been reports of fake crypto apps that have scammed hundreds of investors,” reported The Verge.

Cryptocurrency prices

The global crypto market cap rose 2.76% to $1.09 trillion as of 8:50 a.m. ET. Global crypto volume grew by 17.5% to $104.15 billion, according to data from Coinmarketcap.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $23,803.31, up 2.38% in the past 24 hours. Ethereum (ETH) rose 3.67% to $1,716.14.

Among other major coins, Cardano (ADA) was up 0.91% at $0.5185, Algorand (ALGO) traded with a 1.29% gain at $0.3351, Solana (SOL) moved up was trading with a 7.53% gain to $43.03, Polkadot (DOT) was up 1.44% at $7.92, and Binance Coin (BNB) was up 1.62% at $276.41.

Today’s top gainer is Optimism (OP), which rose 43.23% to $1.61. The big loser was Huobi Token (HT), which fell 1.3% to $4.44.

Meme Coin and DeFi prices

Dogecoin (DOGE) rose 6.31% to $0.0697. Its volume to market capitalization ratio is 0.07069. Rival Shiba Inu (SHIB) rose 5.3% to $0.00001195.

Dogelon Mars (ELON) rose 3.5% to trade at $0.0000003691, Floki Inu (FLOKI) lost 0.6% to $0.00001121 and Samoyed Coin (SAMO) lost 6.35% at $0.0117.

In the DeFi segment, YFI (yearn.finance) rose 20.09% to $8,727.45, and Terra Classic (LUC) traded with a gain of 0.45% to $0.0001001. Avalanche (AVAX) rose 6.19% to $24.53, Uniswap (UNI) traded with an 11.87% gain to $9.35 and Aave (AAVE) fell 5.82% to $100.46.

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