Security specialists have sounded the alarm over a newly discovered malware that targets banking applications and cryptocurrency portfolios.
Malware, recently discovered by security company Cyberreason called EventBot, disguises itself as a legitimate Android app – like Adobe Flash or Microsoft Word for Android, which abuses access features by gaining deep access to the operating system and applications Bank.
Once installed, the bot steals passwords from more than 200 banking and cryptocurrency applications – including PayPal, Coinbase, Capital One and HSBC, as well as 2-factory authentication application codes.
By encrypting a 2-factory authenticate, hackers can infiltrate your bank accounts, cryptocurrency portfolios by emptying your accounts.
“The developer behind Eventbot has invested a lot of time and resources in coding it, because the level of sophistication and capabilities is really very high,” said Assaf Dahan, head of this deliberation at Cybereason.
Malaware records every key that is pressed on your phone, giving hackers a clear picture of what’s going on on the victim’s phone. Over time, after collecting data from your phone, the application sends the data to hacker servers.
“So far, we have not noticed clear cases of copying or reusing code from other malware and it seems to have been written from scratch,” Dahan said. So apparently this is a new Malaware and there is still no additional information on who is hiding behind it.
Researchers further advise Android users to avoid suspicious, unreliable third-party applications.