- Cybersecurity firm Kaspersky disclosed that hackers are utilizing malware installed in Android devices to steal crypto.
- The Cybersecurity firm suggested that users take caution.
As the crypto space is evolving, hackers finding new ways to steal users’ digital assets. Kaspersky Lab experts revealed that hackers are using counterfeit Android smartphones to steal cryptocurrency.
According to cybersecurity firm Kaspersky, they have discovered thousands of malware-infected Android devices specially developed to steal users’ data and crypto. These Android devices are often available at low prices to lure buyers.
The latest malware is a modified version of Triada, a remote access trojan malware that is used to compromise Android devices. The security firms reported they found more than 2,600 users who were at loss by the new version of Triada. These users are from different regions across the globe but the majority are from Russia.
Dmitry Kalinin, a cybersecurity expert at Kaspersky Labs, shed light on this malware and said it has existed for a long time. He categorised it as one of the most difficult and destructive threats to Android devices. Kalinin remarked that the latest version of this Triada preexist in the new devices.
He further mentioned that the supply chain is likely compromised, leaving sellers and buyers unaware of this issue. Kalinin stated,
“Judging by the analysis of transactions, they were able to transfer about $270,000 in various cryptocurrencies to their crypto wallets. However, in reality, this amount may be larger; the attackers also targeted Monero, an untraceable cryptocurrency.”
The firm describes that this new version of the malware is present in the firmware of infected devices and located in the system framework. It can get full control of users’ Android devices and steal cryptocurrency by replacing crypto wallet addresses.
The cybersecurity firm suggested that users purchase smartphones only from authorized distributors and protect themselves from these types of scams.
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