What’s Happening With Lyka Should Serve As A Reminder To Always Be Careful What You Share On The Internet

For gems or otherwise, your data and privacy are what should always be most important to you.

Whether it be for gems or not, always be cautious with what you do or share on the internet, especially if it’s private information.

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If you’ve been to an establishment recently, you may have noticed that may accept Lyka GEMs. For those who aren’t in the loop, Lyka is a social media app that launched in March 2019. On the app, you can earn GEMS (gift card in electronic mode) by doing a variety of things from posting on your profile to sharing anything, or max rating (liking) content on Lyka. Users can also freely share and send GEMs to other users, even celebrities and influencers on the app to their followers. The GEMs in turn can be used to buy a lot of things from clothes, food, groceries, even a car.

The app has blown up in popularity in the country with thousands of users regularly on the app. Even if you don’t use it, you might have come across someone who does, has talked about it, or even invited you offering you the so-called GEMs. Lyka sounds like a dream. Just use the app and make money. But as they say, if it’s too good to be true, it probably is. And with the recent events surrounding Lyka, it should serve as a cautionary tale that you need to be careful with what you put out and share on the internet.

WHAT IS HAPPENING WITH LYKA

Just recently, the Bangko Sentral ng Pilipinas (BSP) told Lyka to suspend payment operations in the country until it is registered with the central bank. In a statement, BSP said that the purchasing activities on Lyka make it an OSP (operator of system payment), which therefore requires it to be registered with BSP. Any and all OSPs in the country need to be registered with the central bank for them to operate in the country. Lyka has said that they are willing to register with BSP, though no official date or announcement has been given so far.

This isn’t the first time that Lyka has been in hot water. Previously, security and privacy concerns about the app have been brought up. Lyka has been cited for the extensive data farming of its users. They take so much data that it “forms a very clear picture of someone’s identity and allows unscrupulous users to use these data through nefarious means.” In Lyka’s privacy policy, they also can share a user’s data with other users, partners, and service providers. Also, once you set up an account on Lyka, you cannot delete or deactivate it. Because user experience is what drives Lyka, it’s not hard to imagine that the app is selling that information to other parties for more data.

BE CAREFUL AND PROTECT YOUR PRIVATE DATA ONLINE

Of course, Lyka isn’t the only app that sells users’ information, but what’s happening with the app should be a sign to always practice caution online. You make money by posting and sharing on Lyka, but what happens if you share too much and your data gets sold to a third party you don’t know of? Since the app is free to use, you are, in essence, Lyka’s product and will value what you do on the app and make money off of that (like with most social media apps).

At the end of the day, you should always be careful with what you post online and what you give out on the internet. No matter where you are on the internet, not just on Lyka, always practice safety and caution with the information you share. If it doesn’t feel right, then it isn’t. Be discerning with what you put and share online.

With the recent news of the text scam and package text scam going around, there are many ways for your private information to be thrown around over the internet. Your phone is your digital you, so if your data gets hacked or stolen, who knows what could happen to you next.

If you are still determined to use Lyka or want to set up an account, it’s highly advisable that you read the terms of use so that you can know the risks and understand your rights. Don’t do things just because they are trending or popular. Always be wise when giving your private information.

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