Google is under fire for allegedly delaying the removal of a scam cryptocurrency app that defrauded users of over $5 million. Maria Vaca, a Florida resident, filed a lawsuit in the California Superior Court of Santa Clara County on August 13, accusing Google of making “false and misleading representations” about the security of apps available on its Play Store.<\/p>\n\n\n\n
Vaca claims she was scammed by an app called Yobit Pro, which posed as a legitimate crypto wallet but was operated by cybercriminals. Between February and July of last year, Vaca deposited $4.6 million into the app, which grew to $7 million. However, when she attempted to withdraw her funds, Yobit Pro demanded an additional $500,000 for “taxes.” After complying, she was further asked to deposit another $2 million for “verification.” Vaca refused and was subsequently threatened by unidentified cybercriminals.<\/p>\n\n\n\n
The lawsuit alleges that Google took three months to remove the fraudulent app, allowing other users to fall victim. Vaca is seeking $5 million in damages. This case follows a recent lawsuit by Google against individuals involved in distributing fraudulent crypto apps. Google has yet to comment on the ongoing case.<\/p>\n\n\n\n
Ian Balina, a well-known crypto YouTuber, has been granted permission to appeal a federal ruling that found him guilty of promoting unregistered securities in the United States through Sparkster (SPRK) tokens. The appeal, granted by a Texas federal judge on August 16, could lead to the dismissal of the case if the appeals court determines that Balina’s actions occurred outside U.S. jurisdiction.<\/p>\n\n\n\n
The original ruling in May sided partially with the SEC, asserting that Balina’s alleged promotions targeted U.S. investors, thus falling under U.S. securities laws. Balina argued that the SEC had no authority over the case because the transactions took place overseas, a claim that was previously dismissed by Judge David Alan Ezra.<\/p>\n\n\n\n
The outcome of the appeal could have significant implications for the application of U.S. securities laws to international cryptocurrency transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Google Faces Lawsuit Over Delayed Removal of Scam Crypto App Google is under fire for allegedly delaying the removal of a scam cryptocurrency app that defrauded users of over $5 million. Maria Vaca, a Florida resident, filed a lawsuit in the California Superior Court of Santa Clara County on August 13, accusing Google of making […]<\/p>\n","protected":false},"author":13,"featured_media":6031,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-11003","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general-news"],"acf":[],"yoast_head":"\n