Fake JioCoin apps
NEW DELHI: Reliance Jio Infocomm has warned that it could take legal action against those misguiding the public in the name of the company by soliciting investments in crypto currencies through fake JioCoin Apps, and said it doesn’t offer any such apps.
In a statement Wednesday, Jio said it has come across media reports and other websites about the existence of purported JioCoin apps on the Internet that are soliciting investments in crypto currencies.
“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,” the new telco said.
Et had reported in its January 30 edition about the existence of fake websites peddling Jio Coin, a crypto currency reportedly in the works from Reliance IndustriesBSE 1.25 %. As on that date, there were at least 22 apps which had Jio Coin in their name available for download on the Play Store.
They ranged from Jio Coin, to Jio Coin Buy and Jio Coin Crypto Currency. While most of these apps had fewer than 1,000 downloads, there were three which had been downloaded between 1,000 and 5,000 times and two which had been downloaded between 10,000 and 50,000 times.
There has been some speculation through January that Reliance Industries, one of the India’s largest corporates, has been brewing its own cryptocurrency for launch in 2018, but the company hasn’t really opened up about any such plan yet.
Privately, company officials have denied the existence of such plans, though the company has officially said that it working with technologies such as blockchain.