Linkedin Researchers recently discovered an updated version of mobile banking trojan FakeToken after detecting around 5, smartphones sending offensive text messages overseas. They noted the unusual development this malware has taken, compared to its previously reported update that disguised itself as a ride-hailing app capable of stealing personally identifiable information PII as well as its expanded ransomware capabilities.
While taken as an unusual development for a banking trojan, security researchers will continue monitoring and observing this campaign. It might still be in its testing and development phase, or this recent deployment might be showing a growing trend in banking trojan campaigns.
Fake token can follow some of these best practices to protect their mobile devices from these kinds of threats: Download applications only from authorized platforms and legitimate developers. Avoid connecting to unsecure and public networks.
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