The post Apple and Google remove Huione Group crypto apps after alleged $24 billion illicit marketplace operation appeared on BitcoinEthereumNews.com.

Apple and Google have decided to remove apps developed by Huione Group from their marketplaces following allegations of their involvement in illicit activities. The removal from the app stores of these major tech giants ramps up Huione Group’s mounting problems.  In July 2024, Elliptic, a crypto crime sleuth, exposed Huione Guarantee as a multi-billion dollar marketplace for online fraudsters, including those behind the so-called pig butchering scams.  An updated analysis by Elliptic shows that cryptocurrency wallets used by Huione Guarantee and its vendors have received at least $24 billion. Since the publication of their research in July, the marketplace’s monthly inflows have surged by 51%, and the number of users has soared to more than 900,000. The reaction to the app store removals  The recent removal of Huione Group apps from the Apple and Google App Stores has various implications. For starters, people have highlighted the difficulties these app stores have to endure in monitoring and preventing the distribution of apps linked to illegal activities. Even though the apps are no longer in the app stores, Huione Guarantee also operates via apps like Telegram, a platform that has also faced legal issues regarding its efforts (or lack thereof) in fighting illicit activities.  The removal also raises questions about the legal responsibilities app stores have to regulate content and ensure user safety without overstepping regulatory boundaries. Meta’s Mark Zuckerberg raised a similar question on the JRE podcast earlier in the week.  Users on X (formerly Twitter) have also asked whether either tech giant would have taken action if Elliptic had not raised the alarm.   Apple and Google have removed apps from the store in the past  Apple and Google may decide to remove an app from their marketplaces for different reasons. In Huione Guarantee’s case, it was because the app was…

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Filed under: News - @ January 16, 2025 8:27 am