Mobile malware evolves into a Monero miner

Cryptocurrencies represent good news for cybercriminals. A key finding of a new report on mobile threats from the first quarter of 2018 reveals that cryptocurrencies tend to be the focus of a growing number of malicious apps. Another significant discovery is that nation-sponsored hackers seem here to stay, and they have an increasing love of mobile platforms.
The report on mobile threats form Q1 2018 analyzed 120 mobile app stores and billions of daily scanned resources. The overall results of the story are promising because it shows a reduction in the total number of malicious apps found compared with the same period of the last year.
Many of the malicious blacklisted apps are increasingly masquerading as cryptocurrency wallets, exchanges, or general cryptocurrency applications.

Companies and individual people must take certain precautions against this growing phenomenon of cyber attacks; they should implement at least a cybersecurity solution, like an antivirus, to protect their systems. Necessary things like regularly updating operating systems and other firmware, using antivirus for Windows, an antivirus for Mac, or antivirus for Android, depending on which OS your device is using. Companies must also hire professional cybersecurity firms to do regular checkups to their internal network a couple of times per year. These checkups must always include a penetration test and various ethical hacking test.
If someone is unfortunate enough to become a victim of the hackers by installing these malicious apps, will have all the crypto-coins stolen from the personal wallets and the infected device will be transformed into a cryptocurrency miner for the highly anonymous Monero.

The research also found that most of the malicious apps, around 86%, share the READ_SMS permission, which allows the app to read messages. This permission can be used for malicious actions like bypassing two-factor authentication. READ_SMS permission is one of the commonly shared permissions, other dangerous permissions include access to cameras, microphones, and location information.

Keep in mind that every device represents a network entry point or a valuable data bank that must be protected by at least cybersecurity solution like an antivirus. Depending on which OS your machine is running, install an antivirus for Windows, an antivirus for Mac, or antivirus for Android for total protection. Companies must take an extra step and hire a professional cybersecurity firm that will run various cybersecurity tests on your company’s network to implement only the best possible cybersecurity solution. Always opt for a package that includes at least a penetration test and ethical hacking test. For companies that exist 100% online, we recommend the using of cyber-secured web hosting services.