After much speculation on Reliance Industries' plan to launch its own cryptocurrency, many fake apps have appeared in the app market. There were around 40 apps that netted a cumulative 50,000 downloads in the past few weeks. However, after the reports of the fake Jio coins surfaced many of these fake apps have disappeared.
After several reports, and Reliance Jio warning with legal action, most apps have been removed from the Google’s Play Store.
It was reported that several of these fake apps were inviting people to invest money. However, Reliance have cleared the air and said that they or their associates have not released any such apps, and advised people to refrain from using them.
The fake apps reportedly asked users for their personal details, and access to their phone data. Some were also inviting people to invest.
Anirudh Sen, a Bitcoin user from Bangalore says, “I downloaded this JioCoin App, which claimed to be authentic app, and asked me to give access to my phone’s location and other personal data. I was aware that there are no genuine apps as Jio yet. I uninstalled the app and spread the news to my colleagues to stay away from such apps.”
Reliance Jio issued an official statement saying, “Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates/ associates. Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them.”