Nasty Malware Steals Banking Passwords And 2FA Codes

Phone-exclusive malware might sound far fetched, but as any Android user can tell you, it’s very real. Most people use their phones more than their computers nowadays, which makes them a perfect target for malicious apps that steal personal data and spy on their victims.

Most of the time, these malicious apps are found on sketchy off-brand app stores where anyone can upload and share their files. Others manage to sneak through the Google Play Store’s lackluster moderation until cybersecurity researchers point them out.

But now, a new kind of Android-focused malware is emerging that puts previous ones to shame. This highly specialized software is built to target banking apps and cryptocurrency wallets by stealing passwords and two-factor authentication codes. Here’s what we know about this new threat, and how it might be spreading in the future.

EventBot: A digital disaster in the making

Unlike a good deal of malware floating around on the web, EventBot has a highly professional sheen to it. According to the security researchers at Cybereason who discovered the malware, the developer appears to have spent a good deal of time and effort on it. Not only is the program unusually sophisticated, but its effects are also devastating to victims.

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