The fraudulent software, believed to have originated from Russia, poses as popular mobile apps such as Angry Birds to trick users into sending premium text messages.
Android Market applications are not vetted prior to release, but Google has assured customers that the threat was swiftly dealt with. Users across Europe were affected by the scam.
San Francisco-based mobile security firm Lookout brought the issue to Google's attention, predicting that there have been at least 14,000 downloads of software containing 'RuFraud'.
"We've seen this family of premium estimates fraud apps over the last couple of weeks, in a few different waves," Lookout's Derek Halliday told VentureBeat. "A few versions will be published every few days or so, I can't tell the future, but we're going to be paying really close attention to it as it develops."
Google has come under fire for its lax approach to mobile security. Rival firms Apple and Microsoft require applications to undergo a vetting process before appearing on their storefronts.
Kaspersky Lab vice president Roger Wilson previously warned that the Android platform is a prime target for hackers.