Malware researcher Lukas Stefanko warns the malware could be much more prolific than we know.
Lukas Stefanko, a renowned malware researcher, published a report earlier this week revealing that he had discovered not one, not two, not three, but four fake cryptocurrency wallets on the Google Play Store.
These app were created using Drag and Drop service - anyone can be malware "developer" and upload it to Play Store now.https://t.co/ELyHDt9DZw
— Lukas Stefanko (@LukasStefanko) November 13, 2018
“These threats imitate legitimate services for NEO, Tether and MetaMask. I reported these apps to Google security team and they were promptly removed,” he wrote on his personal website, adding that they were promptly removed from the store.
Stefanko added that the thing that concerned him the most was that each one of these applications was created with a Drag-n-Drop app builder service. In other words, no coding skills were required to create the malware - practically anyone could create similar scams.
Stefanko sorted the fake apps into two separate categories: phishing and fake wallets. The app imitating MetaMask was classified as a “phishing” app. After launching, the app “requests from the user his Private Key and wallet password.”
The fake wallet apps fool users by listing the attacker’s public address as the public address of their newly-generated wallet. Users are not given access to their private keys.
“If a user send [sic] his funds to this wallet, he is not able to withdraw them because, [sic] he doesn’t own private key,” Stefanko explained. He published screenshots of two separate accounts that he created on the app, both of which were assigned the same public address.
Distributing Malware Has Become Increasingly Easy
Stefanko’s comments about the ease with which these fake apps were created echoed the sentiments of Rick McElroy, strategist at cybersecurity firm Carbon Black.
McElroy commented to CNBC earlier this year that distributing malware was extremely easy--although the methods that he identified were a bit different. McElroy and his firm published a report showing the ease with which any person could purchase a piece of malware from the “deep web” and begin operating it, adding that some of the malware even comes with technical support.
Lukas Stefanko, a renowned malware researcher, published a report earlier this week revealing that he had discovered not one, not two, not three, but four fake cryptocurrency wallets on the Google Play Store.
These app were created using Drag and Drop service - anyone can be malware "developer" and upload it to Play Store now.https://t.co/ELyHDt9DZw
— Lukas Stefanko (@LukasStefanko) November 13, 2018
“These threats imitate legitimate services for NEO, Tether and MetaMask. I reported these apps to Google security team and they were promptly removed,” he wrote on his personal website, adding that they were promptly removed from the store.
Stefanko added that the thing that concerned him the most was that each one of these applications was created with a Drag-n-Drop app builder service. In other words, no coding skills were required to create the malware - practically anyone could create similar scams.
Stefanko sorted the fake apps into two separate categories: phishing and fake wallets. The app imitating MetaMask was classified as a “phishing” app. After launching, the app “requests from the user his Private Key and wallet password.”
The fake wallet apps fool users by listing the attacker’s public address as the public address of their newly-generated wallet. Users are not given access to their private keys.
“If a user send [sic] his funds to this wallet, he is not able to withdraw them because, [sic] he doesn’t own private key,” Stefanko explained. He published screenshots of two separate accounts that he created on the app, both of which were assigned the same public address.
Distributing Malware Has Become Increasingly Easy
Stefanko’s comments about the ease with which these fake apps were created echoed the sentiments of Rick McElroy, strategist at cybersecurity firm Carbon Black.
McElroy commented to CNBC earlier this year that distributing malware was extremely easy--although the methods that he identified were a bit different. McElroy and his firm published a report showing the ease with which any person could purchase a piece of malware from the “deep web” and begin operating it, adding that some of the malware even comes with technical support.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Kraken Announces Partnership to Enhance Crypto Offerings in German Market
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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