As of writing this article, there are two fake JioCoin apps on the Play Store which claim to either trade or sell/buy the cryptocurrency.
Reliance Jio has officially issued a media statement denying that the company has not published any apps on the playstore for its allegedly upcoming cryptocurrency, JioCoin. The statement comes shortly after some fake apps touting as official JioCoin wallets and apps popped up on the Google Play Store.
“Reliance Jio has come across reports in media and other websites about the existence of purported JioCoin Apps on the Internet that are soliciting investments in crypto currencies from people. Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates / associates.” the telco said. “Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them. Reliance Jio takes a serious note of such fraudulent attempts by unscrupulous persons to misguide the public in the name of Jio and reserves the right to take appropriate legal recourse.” Added the company.
As per an ET report, there were at least 22 fake JioCoin apps showing up on the Play Store dubbed Jio Coin CryptoCurrency, Jio Coin, and Jio Coin Buy. The apps were reportedly downloaded between 10 to 50,000 times. As of now, there are two recently published fake JioCoin apps on the Play Store with less than 5 downloads, which leads us to believe that Jio is already taking action against the bogus apps.
As per an earlier report, Reliance Jio is in plans to create its own cryptocurrency called JioCoin. A team of about 50 young professionals, led by Akash Ambani, will be working on the blockchain technology. It is also reportedly being developed for applications like smart contracts and supply chain management logistics. You can read more the JioCoin report here.