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Fake Crypto Wallet on Google Play Steals $70,000 in Digital Assets After Being Downloaded 10,000 Times: Report

Fake Crypto Wallet on Google Play Steals ,000 in Digital Assets After Being Downloaded 10,000 Times: Report

A fake crypto wallet application on the Google Play Store has reportedly stolen tens of thousands of dollars worth of crypto assets from unsuspecting customers after seeing 10,000 downloads. According to a new report from cybersecurity firm Checkpoint Research (CPR), a malicious wallet drainer on Google Play stole $70,000 worth of digital assets from users […]

The post Fake Crypto Wallet on Google Play Steals $70,000 in Digital Assets After Being Downloaded 10,000 Times: Report appeared first on The Daily Hodl.

Altcoins Shine as Crypto Economy Hits $3.29T: OM, XLM, ADA and XRP Drive the Frenzy

Check Point Discovers Mobile Crypto Drainer App on Google Play Store: $70K Stolen From 10,000 Users

Check Point Discovers Mobile Crypto Drainer App on Google Play Store: K Stolen From 10,000 UsersCheck Point Research (CPR) has uncovered a new threat: a mobile crypto drainer app found on Google Play. This app, deceptively posing as the legitimate WalletConnect tool, exploited the growing popularity of digital assets and targeted users directly on their mobile devices. Over five months, it achieved more than 10,000 downloads and stole around $70,000 […]

Altcoins Shine as Crypto Economy Hits $3.29T: OM, XLM, ADA and XRP Drive the Frenzy

Uniswap launches Android wallet app with built-in swap function

The Uniswap Android app has finished beta testing and is now publicly available.

Uniswap Labs has publicly released an Andriod mobile wallet app with built-in swap capability on the Google Play store.

The new app allows users to make swaps through the decentralized exchange (DEX) from within the app, eliminating the need for a separate web browser extension, Uniswap Labs vice president of design Callil Capuozzo told Cointelegraph.

The app was released in a closed beta on Oct.12, but this is the first time the Android version has become available to the general public. An iOS version was released in April.

Uniswap mobile app demo. Source: Uniswap Labs

Uniswap currently has over $3 billion of crypto locked up in its contracts. The DEX was developed by Uniswap Labs and is governed by the Uniswap decentralized autonomous organization, UniswapDAO.

Capuozzo said after hearing user feedback, the team changed the location of the app’s wallet address display, making it potentially easier for users to cut and paste their address.

Capuozzo said Uniswap added support for new languages and now supports English, Spanish, Japanese, Portuguese, French and Chinese — both traditional and simplified — and added a setting that allows users to view the value of their crypto in their local currency.

Related: Uniswap starts charging fees for some swaps, but not for wrapping Ether

Capuozzo added that Uniswap’s Android app was one of the most requested items the team has been asked for and is expecting demand to be high.

“We’ve been hearing from Twitter replies and our community — they’re always asking ‘When Android? When Android?’” Capuozzo said. He emphasized the team encourages users to continue to submit improvement suggestions.

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Uniswap launches Android wallet beta for Google Play

Uniswap launched a beta version of its wallet app for Android, paving the way for a Google Play Store launch once testing is complete.

Decentralized crypto exchange Uniswap launched a closed beta Android version of its mobile app on October 12, according to a blog post from the app’s development team. Uniswap has previously only been available on PC and iOS mobile devices.

Uniswap is the world’s largest decentralized crypto exchange by cumulative volume, having processed over $1.7 trillion worth of trades since its inception, according to data from DeFi Llama. Most of its trades have been done via a web-based application. However, the team launched a mobile app for iOS on April 13. Prior to this date, the team had complained that Apple was holding up the app’s launch in the Apple App Store. Even after getting the green light from the App Store, Uniswap still did not have a dedicated app for Android devices.

According to the Oct. 12 announcement, the new Android beta app allows users to select coins on different chains without switching networks. It automatically detects which network a coin is on and switches to that network without the user prompting it to. It can be used on Polygon, Arbitrum, Optimism, Base and BNBChain currently, with more chain compatibility slated for the future.

The wallet also routes Ethereum transactions through a private pool in order to help avoid front-running and sandwich attacks, although this feature can be turned off if the user prefers. In addition, it automatically detects most coins that have built-in transfer fees. These fees are displayed in the interface, making the user aware of them.

Related: Google Assistant will soon incorporate Bard AI chat service

The announcement linked to a signup for an email waitlist, which it stated will be used to roll out copies of the app to early adopters. The team also plans to release the app’s open-source code in the coming weeks, as part of its security audit with Trail of Bits.

Uniswap is not the only decentralized exchange to offer a mobile wallet. In 2021, 1Inch launched a mobile wallet for iOS, and an Android version of it was published in October.

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Google Play Store officially allows NFT games, but not gambling ones

The store’s team said games can offer NFTs for sale or to earn, but developers must declare this feature in their game's descriptions and must not allow gambling.

The Google Play store now allows video game publishers to sell nonfungible token (NFT) games in its store, according to a July 12 blog post from the store’s group product manager, Joseph Mills. In the post, Mills states that Google Play is “pleased to share that we’re updating our policy to open new ways to transact blockchain-based digital content within apps and games on Google Play,” including “boosting user loyalty through unique NFT rewards.”

Google Play banned crypto mining apps from its store in 2018 and removed the Bitcoin Blast video game for “deceptive practices” in 2020. Apple’s App Store stated in October that NFTs purchased outside of the App Store cannot offer any special benefits to users in a game, or else the game will be banned. In addition, NFTs sold through Apple’s App Store version of a game must pay a 30% fee to Apple.

These actions and statements caused many industry experts to believe that mobile NFT games were under attack. However, the new policy from Google Play makes clear that these games are welcome on Android devices, as long as they follow a few rules.

Related: Uniswap says its mobile app is “out of Apple jail” and live in most countries

According to the post, developers must clearly state if a game allows users to earn or buy NFTs or cryptocurrencies. In addition, game developers are not allowed to “glamorize any potential earning from playing or trading activities,” nor can they sell loot boxes or otherwise allow players to gamble.

As long as they abide by these rules, games can offer tokenized assets as part of the gaming experience, including by “reimagining traditional games with user-owned content,” the post said. Google Play indicated that it set these guidelines in cooperation with Web3 gaming leaders and will “continue to engage with developers to understand their challenges and opportunities.”

Web3 games have also been banned by the world’s largest PC game distributor, Steam. However, Steam’s competitor, Epic Games, launched NFT card game Gods Unchained in its store on June 22.

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Robinhood Wallet rolls out on iOS with Android support to follow

The full launch and removal of the 1 million waitlisted users come six months after Robinhood launched its beta version in September.

Trading platform Robinhood has launched its Web3 wallet on Apple’s App Store, becoming available to iOS users in over 130 countries.

Robinhood shared the news in a Mar. 1 post, stating that users would no longer need to sit on a waitlist to access the new multi-chain, self-custody wallet. It added that it will be supported on Android “later this year.”

Since the beta launch of the Robinhood Wallet in September, the trading platform integrated Ethereum — in addition to already supporting Polygon — and added 50+ ERC tokens to be bought, sold and held on the self-custody wallet.

Among the tokens now supported include USDC, UNI, MATIC and SHIB.

These tokens can be traded without paying transaction fees and users are able to use these cryptocurrencies to interact with a range of decentralized applications (Dapps).

A preview of the Robinhood Web3 Wallet. Source: Robinhood.

Robinhood Crypto general manager Johann Kerbrat said the support for Ethereum and ERC-20 tokens came in response to customers wanting access to more coins and tokens on more chains.

Since the beta launch, Robinhood Wallet has also added a nonfungible token (NFT) feature to enable users to collect and store their favorite collectibles on Ethereum and Polygon.

A Robinhood spokesperson told Cointelegraph that Robinhood NFTs would not be subject to Apple’s 30% commission on apps and in-app purchases of digital goods and services.

While the Robinhood Wallet is self custodied there is a range of self-verification methods that can be implemented to provide security to its Web3 users:

“When users get started, they need to set up either Face/Touch ID or a custom PIN, which they’ll use to authenticate every time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, that allows them access to their wallet and crypto.”

Robinhood stated that users “can–and should–back up their wallet” by writing it down, storing it offline, or saving it in a secure manner.

Related: Robinhood board gives nod to buy Sam Bankman-Fried’s $578M stake

However, not everyone is on board with the security mechanisms set in place with the Robinhood Wallet.

A Reddit poster by the name of “StamInBlack” wasn’t happy with the option of having seed phrases stored on iCloud, while others in the same thread expressed unrelated reservations with the trading platform.

An additional method to secure the Robinhood Wallet. Source: Robinhood.

However, Kerbrat said the feedback on the Robinhood Wallet thus far has been ”extremely positive.”

The rollout comes two days after Robinhood Markets revealed in a 10-K filing that it received a subpoena from the United States Securities Exchange Commission (SEC) in December to conduct an investigation into its cryptocurrency listings, custody and platform operations.

Altcoins Shine as Crypto Economy Hits $3.29T: OM, XLM, ADA and XRP Drive the Frenzy

Salvadoran Government’s Chivo Wallet Experiences Hiccups, Some Residents Can’t Claim $30 BTC Reward

Salvadoran Government’s Chivo Wallet Experiences Hiccups, Some Residents Can’t Claim  BTC RewardOn the day El Salvador implemented the bitcoin tender law, the official government wallet called the Chivo wallet had some initial issues for five hours on Tuesday. Residents could not leverage the application and had issues accessing the app on Apple’s App Store and Google Play. The situation seems to be resolved now as Salvadoran […]

Altcoins Shine as Crypto Economy Hits $3.29T: OM, XLM, ADA and XRP Drive the Frenzy