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New Android Malware ‘EventBot’ Can Steal Your Bank Details

Cyber researchers have discovered a new malware that targets Android devices. The malware is called EventBot by the security firm who found it, Cybereason. Once installed on your mobile phone, the application gains access to your device’s operating system. It then decrypts the passwords to online banking apps. It is also capable of intercepting the two-factor text authentication codes.

A hacker gains access to all your bank accounts, e-wallets and can rob you of your money. The app can also identify the taps and touches on your smartphone screen. It can also view notifications, from other apps on your device. 

The malware is quite advanced

Not only is the malware capable of stealing your funds, but it can also monitor whatever is happening on your device. The firm that has discovered this malware says that the developers are adding to the app regularly, making it more harmful every day. 

“The developer behind Eventbot has invested a lot of time and resources into creating the code, and the level of sophistication and capabilities is really high” – Assaf Dahan, Head Threat Research, Cybereason.

Like anti-virus software updates its database, this malware updates itself. The malware was found back in March, and since then, it keeps updating its code to remain hidden. Developers are also using highly advanced encryption technology so that the data from a user’s device reach them safely. 

What is malware? 

In simple terms, malware is software that simply damages your data or system, or gains access to confidential files without your consent. It is a term that refers to malicious software, viruses, ransomware and spyware. 

Typically, malware is capable of attaching itself to an application that seems to do normal things. It might be in an email that has popped in your inbox, or in software that you download from an unknown source, etc. Once you execute the file, by tapping on it, your device gets infected.

What not to do in such conditions?

  • Avoid downloading any application or software from a third-party or unknown source. These files might be infected. 
  • Always use anti-virus software by a trusted developer. Some of them are even paid but is a very nominal amount as this software are very difficult to develop. Always go for known names.
  • Never click or open suspicious emails that you do not know the sender. The mails might have the malware in the form of a link. As soon as you click the link, your device will get infected.
  • Do not access websites that are not secure or which do not have a security certificate. 
  • Avoid saving passwords on third-party applications.

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