FTC Targets Application Developer
Apparently, Google Inc.'s (NasdaqGS: GOOG) and Amazon.com Inc.'s (NasdaqGS: AMZN) App stores anti-fraud mitigation activities let a bad actor's apps through the guantlet... In this case, a hijack app, that apparently stole cycles from the devices it was installed on, to mine for BitCoin. Luckily the United States Federal Trade Commission and the Office of the New Jersey Attorney General stepped-up-to-the-plate, eh Sergey?
The FTC and the Office of the New Jersey Attorney General took action against two software app developers, Equiliv Investments and Ryan Ramminger, alleging their mobile app, called “Prized,” hijacked people’s phones to mine for virtual currencies. Users thought they could earn prizes by playing games and taking surveys through the app. But the FTC alleges the app had malware that sapped the phone’s computing power, made phones run slower, drained battery life, and used up data plans – all so the developers could secretly make money mining virtual currencies. - via the FTC