Apple and Google come under scrutiny for scammy crypto apps
by Makena Kelly from The Verge - All Posts on (#61XBG)
Illustration by Alex Castro / The Verge From Elon Musk Twitter impersonators to dubious Discord chats, cryptocurrency and non-fungible token (NFT) scammers have stolen billions of dollars from investors over the last few years. But now, politicians and law enforcement are turning their attention to Apple and Google - companies that operate huge app stores - and how they review fraudulent crypto apps.
In letters to Apple CEO Tim Cook and Google CEO Sundar Pichai on Thursday, Sen. Sherrod Brown (D-OH) asked that the companies explain their processes in reviewing and approving crypto trading and wallet apps for download on their app stores. Brown's inquiry follows a recently released FBI report warning that 244 investors have been scammed out of $42.7 million from fraudulent...