German financial authorities are sounding the alarm amid the rapid spread of a new financial malware affecting banking and cryptocurrency applications.
Germany’s Federal Financial Supervisory Authority (BaFin) released an official statement on January 9, warning consumers about the “Godfather” malware that collects user data in banking and cryptocurrency apps.
BaFin stressed that the new virus targets around 400 banking and cryptocurrency apps, including one operated in Germany. Godfather malware attacks users by displaying fake girlfriend websites for regular banking and cryptocurrency apps and steals user login data.
According to regulators, it’s not yet known how malware attacks users’ devices. The malware is known to send push notifications to get her two-factor authentication code. “With this data, cybercriminals could gain access to consumer accounts and wallets,” BaFin said.
The first warnings about The Godfather surfaced in December, with reports suggesting the malware was targeting users in 16 countries and affecting Android devices. Group-IB’s cybersecurity expert said he first discovered the Godfather Trojan in 2021, but the malware has undergone major code upgrades and improvements, making it more than a few years old. Activity spikes on the moon.
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According to cybersecurity experts at Group-IB, nearly 50% of all apps targeted by The Godfather are banking apps, mostly from the United States. Germany is one of the countries most affected, along with Turkey, Spain and Canada. The malware is also known to target 110 cryptocurrency exchange platforms and 94 cryptocurrency wallet apps.
of Group IB #ThreatIntelligence We have detected over 400 international financial companies targeted by #godfather # android banking #Trojan horse From June 2021 to October 2022.Godfather’s predecessor was another #Bank Trojan name #anubis: https://t.co/Kf2IGvrLnk pic.twitter.com/JERnAuNfAC
— Group-IB Global (@GroupIB_GIB) December 21, 2022
Cryptojacking has emerged as one of the biggest attacks against cryptographic apps in recent years. 2023 will likely be marked by the “biggest impact cyber epidemic,” according to predictions from cybersecurity lab Kaspersky, so we will see more malware attacks in 2023.