With cryptocurrencies gaining more popularity across the world, there are many hackers working day and night to break the security system of digital currencies. Block-chain proves to be a much secured architecture as its works on the completely decentralized framework and till now hackers are being prevented effectively from doing anything malicious.
Since it is almost impossible to break the block-chain on which cryptocurrency transactions are being processed, hackers have started targeting the mobile apps which are most commonly used for trading and storing the cryptocurrecies.
Broken Authentication...
Android.banker.A2f8a - The malware which is being distributed through a fake flash player app on third-party stores
Cyber security solutions from Quick Heal has confirmed the presence of an Android banking Trojan that imitates over 230 apps, including those offered by cryptocurrency exchanges and Indian banks, and it steals user data.
Once the app gets downloaded in an android device, the Trojan continually monitors the installed apps and specifically for the 230 cryptocurrency and banking apps. When the malware detects the presence of any of its interested apps, it starts showing fake notifications disguised as coming from the targeted app. The malware asks for the user to log in with their credentials and ultimately, tricks them by hacking the login ID and password.
How to protect myself ?
The evolution of mobile computing not only eases the lives of users but it also poses a serious security threat to the users. Though block-chain proves to be much secured architecture currently, hackers keep finding alternate ways of hacking.
It becomes an added responsibility for the users to protect themselves from these malicious activities by confirming the legitimacy of mobile apps before downloading and avoid downloading any app which fails to prove it.
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