The Federal Trade Commission revealed charges today against an Ohio man who created an app that secretly used consumers' phones to mine second-tier cryptocurrencies like Dogecoin, Litecoin, and Quarkcoin.
The case against app creator Ryan Ramminger and a company called Equiliv Investments has been settled. Ramminger agreed to pay $50,000 to the State of New Jersey, which investigated the case along with the FTC. All but $5,200 of the settlement money will be vacated within three years provided Ramminger complies with the agreement, which calls for him to not create malware.
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