Our Director, Ciaran Kenny, recently gave his security expertise about a new type of crypto currency & the app used to mine it on a mobile phone! The Bee Network is a phone-based digital currency application that you can download to your smartphone & “mine” a form a crypto-currency called “Bee Coin” by clicking a button every day.
Ciaran gave his views on whether the app was safe from a security perspective on a YouTube video with his son, Connor Kenny. He first looked at whether the app accesses any data on your device. Other than the app asking for access to your contacts to pass on referrals, he found that it did not access any data at this time. Even if you do not allow it access to your contacts, you can still use the app fully. Please note that his assessment was about how the app works at present, this may always change in the future.
The pair then discussed whether the app could get data from you based on your behaviour to target ads. He said that currently it does not seem like the app does target ads, but with an aim to recruit one billion users in the future, it would not be surprising if they do monetise the app this way much in the same way as other apps do.