Cryptocurrency is a digital or virtual currency in which encryption techniques are used to generate the value of the currency.
Reliance Jio on Wednesday clarifies that the company has not launched any cryptocurrency app or website by the name of JioCoin.
In a statement, the company said, “Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates/associates. Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them.”
For those who don’t know, cryptocurrency is a digital or virtual currency in which encryption techniques are used to generate the value of the currency and verify the transfer of funds, operating independently of a central bank.
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With the sudden rise in market shares of cryptocurrencies like Bitcoin, fake apps and websites are created online calming to the Reliance JioCoin. At the Google Play Store, we discovered that there are around 15-20 such applications, which have received over 10,000 installations.
Reliance further added, "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."
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