Tag Archive for: store

EXPLAINED: How to store your crypto safely and avoid hacks  

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In light of the various hacks and liquidations of crypto exchanges and Decentralise Finance (DeFi) platforms, experts advise crypto investors to not keep their crypto funds in any such places. But what other options do investors have? 

Well, investors have not just one, but several other options, based on their requirements. But let us first understand why it is not safe to store your crypto in the aforementioned places. 

Why should you not store your crypto on an exchange or on any DeFi platform? 

It is advisable to not store one’s crypto holdings on any centralised platform like exchanges or DeFi platforms. It is because the custody of the funds is with the platform itself and not the investor. Moreover, these platforms are prone to hacks.  

In the recent past, DeFi platforms, like the Celsius Network, 3 Arrows Capital, Voyager Digital, Vauld, and other faced financial strains because of which investors’ funds became inaccessible. And hence investors are advised to store their cryptos in different types of crypto wallets. 

But what are crypto wallets? 

Crypto wallets are pieces of hardware or software used to store your crypto assets. Every crypto wallet has an identity, which comprises a pair of private keys and public keys.  

What are public and private keys and what do they do? 

Public and private keys provide an alphanumeric identifier for your crypto wallet, which is called, your wallet address. 

What does a crypto wallet address do? 

The crypto wallet address specifies where the crypto tokens can be sent on the blockchain network. The private keys of a crypto wallet are never supposed to be disclosed. The public key is disclosed to sender of cryptos to identify the address. 

Crypto wallets can be divided into groups  

a) Based on how frequently they are connected to the internet and  

b) Based on their technology. 

Based on internet connectivity, they are divided into two categories 

1. Hot Wallets 

Hot wallets are regularly connected to the internet. They are more user-friendly but less secure since they are frequently connected to the Internet. Hot wallets are usually utilised for daily transactions. They offer immediate access to the…

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Three million+ Android users must delete these apps after Google left them lurking in the Play Store

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A horribly widespread new mobile security threat has been discovered and made public, and as much as Google might generally insist that it’s doing its best to keep your money and data protected, that’s definitely not what happened in this particular case.

Dubbed “Autolycos” by the cybersecurity expert who made the alarming but oh-so-familiar discovery more than a year ago (!!!), the virus acts in an insidious way reminiscent of the Joker malware that’s been regularly in the news for the last few years, stealing money from millions and millions of unsuspecting Android users.

The threat, the list, and the eye-popping numbers

Unfortunately, the number of potential Autolycos victims jumped in the millions as well as the months went by and Google did nothing to thwart this new fleecing scheme. Although the search giant was purportedly made aware of the existence of eight malicious apps in the official Play Store early on, it took roughly six months for six of these titles to disappear, with the final two only going away this Thursday.

While it’s impossible to know exactly how many users had their Android devices infected and their bank accounts drained as a direct result of Google’s tardiness in dealing with this situation, it feels safe to assume that the apps listed below would have never reached those impressive download figures if they were kicked out (much) earlier:
  • Vlog Star Video Editor – 1 million+
  • Creative 3D Launcher – 1 million+
  • Funny Camera – 500,000+
  • Wow Beauty Camera – 100,000+
  • Gif Emoji Keyboard – 100,000+
  • Razer Keyboard & Theme – 50,000+
  • Freeglow Camera 1.0.0 – 5,000+
  • Coco camera v1.1 – 1,000+

All in all, Evina’s Maxime Ingrao estimates this malware-spreading campaign impacted more than three million devices, subscribing the owners of said Androids to bogus “premium” services without their knowledge or authorization. Many of those users might still be paying for “subscriptions” they don’t want, need, or even have any idea about.

Protection is everything

As always, you are advised to check the list of apps installed on your phone or tablet and delete any and all titles confirmed as malicious on sight. For the future, you should be extra careful what you…

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Why the Apple and Google app store monopoly could soon be over

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New rules on mobile app stores could trigger a wave of creative, cheaper apps with more privacy options for users. Every budding developer dreams of creating an app that goes viral and makes lots of money overnight. The Angry Birds game became a worldwide phenomenon within weeks when it launched in 2009 and made US$10 million (£8 million) in its first year.

But, overall, the numbers make it clear that mobile apps don’t guarantee wealth. A 2021 study showed just 0.5% of consumer apps succeed commercially . Developers have to jostle for attention among the almost 3 million apps and games on Google Play and 4.5 million apps and games on the Apple store.

On Apple’s iPhone and iPad platforms, the App Store is the only way to distribute apps. Until recently, Apple and Google’s stores charged a 30% commission fee. But both halved it for most independent app developers and small businesses after lawsuits such as in 2020 when video games company Epic Games claimed Apple has an illegal monopoly of the market.

Epic Games lost but Apple was subject to App stores changes that are on hold. Both Epic Games and Apple are appealing. Epic Games has filed a similar case against Google, which is set to go to trial in 2023. App stores set the rules on privacy, security and even what types of apps can be made.

Third-party stores could set different rules which might be more relaxed and allow developers to keep more of the money from apps they sell.

You have been Sherlocked

Independent developers say they are sometimes being “Sherlocked” by Google and Apple. They develop an app, and not long afterwards the platforms embeds the app’s features in the operating system itself, killing the developer’s product.

A man and women work on developing a mobile app together looking at a computer monitor
Making money from developing a mobile app is not as easy you may think.
Shutterstock

FlickType was developed as a third-party keyboard for iPhones and Apple Watches in 2019. Shortly afterwards Apple apparently told the developer that keyboards for the Apple Watch were not allowed, they announced the feature themselves.

It can take between three and nine months to develop one app and can cost between US$40,000 and US$300,000 to…

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Match takes on Google, saying it’s ‘a hostage’ to monopolistic Play Store fees

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Dallas-based Match Group Inc. accused Alphabet Inc.’s Google in a lawsuit of acting as a monopolist with its app store billing rules, the latest escalation in a brawl over the mobile-app industry.

Match Group, which operates dating apps such as Tinder and OkCupid, alleged that Google breaks federal and state laws and abuses its power with a requirement that app developers use its billing system on Android devices.

“Ten years ago, Match Group was Google’s partner. We are now its hostage,” Match Group said in a complaint filed Monday in northern California federal court. “Blinded by the possibility of getting an ever-greater cut of the billions of dollars users spend each year on Android apps, Google set out to monopolize the market for how users pay for their Android apps.”

Google, like Apple Inc., has faced enormous recent legal and political scrutiny over the commission fees and billing restrictions both companies apply to paid services in their app stores. Congress is currently weighing a bill to force Google and Apple to change their business models.

In response to public pressure, Google has halved its 30% fee for some apps. But the company said it would tighten its rules that require the use of its billing system for in-app purchases, citing security concerns. Google gave a June 1 deadline to comply or be removed from its Play Store.

In March, Google announced it was letting select apps offer their own billing service in addition to Google’s on Android devices. Spotify Technology SA, another app store critic, said it was using this option and Google suggested more companies would follow.

Not Match Group, apparently.

“This lawsuit is a measure of last resort,” Chief Executive Officer Shar Dubey wrote in a statement.

Dubey said her company tried “in good faith” to resolve its concerns with Google but was left with “no choice but to take legal action.” In its filing, Match Group said that it asked Google to adopt this new “user billing” feature but Google refused.

Google representatives didn’t immediately respond to a request for comment from Bloomberg.

Match is forecasting $42 million in additional costs for Google’s Play Store during 2022, chief…

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