Cryptocurrency scams are hitting Indian smartphone users hard, with over 20 fake crypto wallet apps sneaking onto Google Play. These apps, posing as trusted platforms like PancakeSwap, SushiSwap, and Raydium, have tricked millions into handing over their digital savings. Cybersecurity experts are sounding the alarm: delete these apps now to save your money.
The Scam Exposed
The malicious apps, uncovered by firms like Check Point, mimic real crypto wallets to steal users’ seed phrases—secret codes that unlock your crypto funds. Once stolen, hackers drain wallets, with losses estimated at $200 million globally. In India, where crypto trading has surged, thousands have fallen victim.
Which Apps to Delete?
The rogue apps include names like PancakeSwap, Suiet Wallet, Hyperliquid, Raydium, BullX Crypto, Meteora Exchange, Harvest Finance Blog, SushiSwap, and OpenOcean Exchange. They use slick logos and fake reviews to seem legit, slipping past Google’s Play Store checks. Google has removed most of these apps, but if you’ve installed them, act fast.
Why India’s at Risk
India’s crypto craze, with 30 million active traders (per a 2024 CoinDCX report), makes it a prime target. Affordable Android phones dominate here, and scammers exploit this with Play Store apps. “Many users don’t verify app sources,” Sharma noted. Rural traders, new to crypto, are especially vulnerable.
How to Stay Safe
Experts urge immediate steps:
- Delete Suspect Apps: Check your phone for the listed apps and uninstall them.
- Secure Your Wallet: Move funds to a trusted wallet like MetaMask or Trust Wallet, and never share your seed phrase.
- Verify Sources: Download apps only from official crypto project websites.
- Update Software: Keep your phone’s OS and apps updated to block vulnerabilities.
FSSAI’s recent ban on misleading “100%” claims echoes this need for truth in digital spaces too.
Google’s Response and Fallout
Google has pulled the fake apps and promised stricter Play Store reviews, but trust is shaken. “How did 20+ scams get through?” an X user asked. The breach has sparked calls for better app vetting, especially in India, where 80% of smartphones run Android. Meanwhile, crypto platforms like PancakeSwap are warning users to stick to official links.
A Wake-Up Call for India
This scam wave is a red flag for India’s crypto boom. With digital payments soaring—UPI hit 15 billion transactions in May 2025—cybersecurity must keep pace. As India eyes a $1 trillion digital economy, protecting users from traps like these is critical.
Act Now, Stay Safe
If you’ve got any of these apps, delete them today. Check your crypto wallet for unusual activity and report scams to India’s Cyber Crime Portal. The crypto dream is alive, but only if you dodge the traps. Stay sharp, India—your money’s at stake
Last Updated on: Thursday, June 12, 2025 5:46 pm by Hemang Warudkar | Published by: Hemang Warudkar on Thursday, June 12, 2025 2:35 pm | News Categories: News, Latest, Press Release, Technology, Trending
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