Android users continue to be targeted by malware. Recent research has uncovered more than 250 apps designed to steal financial information. So what can these apps do?
Fake wallet apps for Android are dangerous
Recent research conducted by McAfee has discovered more than 280 malicious Android apps targeting users on third-party app stores and websites. These apps, which primarily target cryptocurrency wallets and financial resources, are thought to have infiltrated thousands of users.
The apps masqueraded as banking, government and financial and were developed to steal sensitive user data. According to the research, once installed on the device, it tricks users and accesses contacts, messages and storage space.
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Malware that obtains extensive permissions can steal users’ photos. In particular, hackers who scan photos with passwords with OCR technology can infiltrate wallets. It is also used to steal two-factor authentication codes.
Fake apps are hosted on fake websites designed to look like official app stores or corporate pages. Users can download apps through social media posts that appear to come from trusted sources.
So far, primarily Asian users have been targeted, but the malware has also spread to the European market. Android users are therefore advised to only download apps from the Google Play Store.
