This new malware is out to get your cryptocurrency

This new malware targets bank accounts and cryptocurrency wallets. — AFP Relaxnews

A new malware program called Crocodilus is currently wreaking havoc in the Android environment. It targets banking applications and cryptocurrency wallets by superimposing fake login pages over the top of official applications.

ThreatFabric is a company specializing in cybersecurity, particularly in threats targeting Android banking applications. It is sounding the alarm about a new malware program, called Crocodilus, which directly attacks online savings.

Crocodilus is spyware that is surreptitiously installed on a smartphone after a corrupted application has been installed. It is a formidable threat, as it acts in a layered manner. This means that it appears on the screen, in front of the official application that you have launched. It therefore displays fake screens, over banking applications or cryptocurrency wallets, which are themselves completely legitimate, in order to encourage users to enter their usernames and passwords. ​

Once activated, Crocodilus is reportedly capable of recording all user interactions with the device, even capturing two-factor authentication codes. The malware could also execute remote commands, giving hackers the opportunity to manipulate the infected device, including to carry out fraudulent transactions, without the smartphone owner even realizing. Finally, to mask certain malicious activities, Crocodilus can display a black screen on the device and mute the sound, giving the impression that it is turned off or in standby mode.

The first recorded victims of Crocodilus are reported to be in Spain and Turkey.

In the face of this type of threat, it is always advisable to only install applications from the official Google Play Store, and to keep your operating system up to date in order to benefit from the latest security patches. – AFP Relaxnews