Trojan Horse Malware Has Been On The Rise As New Report Issues Alarm For Mobile Banking Apps

A new report by Zimperium has gone as far as mentioning how there’s a new Trojan Horse Malware on the rise and it has targeted different mobile applications.

The news comes from one of the world’s only security platforms that are designed for mobiles. It added how the risk is surging with each passing day and those most vulnerable include different financial corporations as well as global consumers lieu of the devastating malware.

The latest research published comes under the name the title of Mobile Banking Heists and the ongoing threat it’s exerting upon today’s global economic market.

The study took more than 600 different apps and investigated them in great detail. These apps were those that had been downloaded on a global scale that surmounted at least a billion. Next, the apps were studied to see which trojan families were being targeted.

And right before that, we saw an audit being conducted of different trojan targets and how they are made to work. Similarly, those nations that were at the greatest risk were also outlined in detail.

As far as the study’s results are concerned, we saw how different trojans targeted different apps and the scale of destruction that was done was different for each one. This is in regards to various modes of exploitation used as well as the intricate degrees of sophistication and reaches conducted.

With the help of reverse engineering, we’ve seen so many trojans be identified that attacked banking apps in recent times. However, it was not until now that we saw people actually going in-depth into an analysis of how it works and what possible threats we could face. But it’s all thanks to the initiative by Zimperium zLabs that we’ve got a new study that manages to highlight just that.

Other than going into detail about some of the most common trojan families that are involved in this regard, the research also highlights how the threat continues to increase with each passing day.

A particular mention is given to the Octo and ExobotCombatD which despite being recognized in 2017 are now being highlighted for causing intense destruction today. Next in line comes Android’s Botnet trojan that first became known in 2018. The rest of the eight trojans for this report was first seen in 2020.

Other key pointers of this research highlighted BBVA Spain as one of the most targeted apps for banking that came under the influence of these trojans. On average, there were 10 million or so downloads and nearly 6 out of the 10 trojans had been targeted.

In America, the reports say that more than 121 banking apps became vulnerable targets by these trojans. The downloads taking place here exceeded the 300,000,000 mark. Other nations that were closely followed in terms of being targeted included both the United Kingdom and Italy too. Here is where around 40 to 50 financial apps served as targets.

Lastly, the study proved how the main three apps that trojans attacked were related to different forms of investments like gold, crypto, and payments made by mobile.

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