A novel mobile malware operation dubbed SpyAgent has surfaced targeting Android device users in South Korea.
According to an investigation by McAfee Labs researcher SangRyol Ryu, the malware “targets mnemonic keys by scanning for images on your device that might contain them,” and it has expanded its targeting footprint to include the UK.
The campaign uses fake Android apps to deceive users into installing them. These apps seem like real banking, government, streaming, and utility apps. As many as 280 fake apps have been uncovered since the start of the year.
It all begins with SMS messages with booby-trapped links directing users to download the apps in question in the form of APK files published on fraudulent websites. Once installed, they will request intrusive permissions to extract data from the devices.
The most prominent feature is its ability to employ optical character recognition (OCR) to steal mnemonic keys, which are recovery or seed phrases that allow users to restore access to their bitcoin wallets. Unauthorised access to the mnemonic keys could allow attackers to gain control of the victims’ wallets and drain all of the funds st
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