June 3, 2020
Android EventBot Malware Steals Banking Information and Defeats 2FA Security

New Malicious Malware Steals Bank Info and Even Defeats 2FA Security

A new and very serious malware is infecting otherwise legitimate mobile applications and stealing users’ bank info and bypassing 2FA security…

Mobile-only attacks are becoming ever more popular among hackers because people use their phones far more than desktop machines. It’s where people connect via social media, browse the net, play games, watch video, and check their accounts. So, it makes sense for nefarious individuals to target mobile devices. And, that’s precisely what a very scary and damaging new malware does.

Android EventBot Malware Steals Banking Information and Defeats 2FA Security

The new malware attacks through Android apps. But, these aren’t the ones found in sketchy, off-brand, third-party app stores. Instead, this one masquerades as legitimate apps, such as Microsoft Word or perhaps Adobe Flash. It uses this ruse to acquire the necessary permissions and then deeply infect phones. After it’s installed, it secretly records keystrokes and notifications, while also scanning for bank account and other financial apps to monitor.

This program is very sophisticated and hides behind a professional sheen, meaning it took quite a bit of time and effort to build, according to Cybereason, a cybersecurity technology company. What’s more, it targets some of the biggest names, including, but not limited to: PayPal Business, Revolut, Barclays, UniCredit, CapitalOne UK, HSBC UK, Santander UK, TransferWise, Coinbase, Paysafecard, as well as others.

Anything the EventBot malware finds is fed to remote servers for hackers to exploit. And because it’s able to read notifications and text messages, 2FA security isn’t effective against it. This makes it the perfect vehicle to steal sensitive banking information without the victim knowing until it’s too late.

To stay safe from EventBot, it’s best to only download trustworthy Android apps from the Google Play Store and run Google Play Protect routinely. Avoid any third-party or off-site app markets, as well.

Owen E. Richason IV

Covers social media, apps, search and like news. History buff, movie and theme park lover. Blessed dad and husband. Owen is also a musician and is the founder of Groove Modes.          

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