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FTC settles with developers of sneaky cryptocurrency mining app

Discussion in 'Network World' started by RSS, Jun 30, 2015.

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    RSS New Member Member

    The developers of a mobile app called Prized that secretly mined cryptocurrencies on people’s mobile phones have settled with the U.S. Federal Trade Commission after being accused of deceptive trade practices.

    Equiliv Investments and Ryan Ramminger, both of Ohio, settled for US$50,000, of which $44,800 will be suspended upon payment of $5,200 to New Jersey regulators, the agency said in a news release Monday. The suit was filed in U.S. District Court for the District of New Jersey last Wednesday.

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