FakeTrade Malware Attack Steals Crypto Wallet Data on Android Phones

IN SUMMARY

• The malware campaigns have been dubbed CherryBlos and FakeTrade.
• The prime target of this attack is crypto wallet data on Android devices.
• TikTok, Twitter and Telegram are being used to promote malicious apps.

A new malware campaign is currently focusing its sights on Android devices, aiming to surreptitiously steal personal information and cryptocurrency wallet credentials from unsuspecting users.

According to the latest report by Trend Micro, cybersecurity researchers have detected two financially motivated malware campaigns. These malicious operations exploit applications within the official Google Play Store, making the platform an attractive target for such cybercriminal campaigns.

Dubbed CherryBlos and FakeTrade by researchers, these two malware campaigns have been identified as potentially related by Trend Micro. The link between them lies in the fact that both types of malware utilize identical application certificates and network infrastructure.

Researchers have identified that campaign operators are increasingly targeting Android users with banking trojans to steal cryptocurrency. To achieve their malicious objectives, they distribute fake Android applications loaded with malware. These apps are advertised on the Google Play Store, phishing websites, and social media platforms. The same pattern is identified in the latest campaigns.

It is worth noting that the malware operators are exploiting various social networking platforms, including X (formerly Twitter), TikTok, and Telegram, to promote fraudulent Android apps. All of the offensive apps have been removed from Google Play.

CherryBlos Campaign

The CherryBIos campaign exploits social network sites to promote fake services and ads, leading users to phishing websites. Unsuspecting individuals are deceived into downloading and installing Android apps infected with malware from these sites.

The malware, known as CherryBIos, first appeared online in April 2023. It earned its name from the unique string found in its hijacking framework. Once installed, CherryBIos can pilfer cryptocurrency wallet credentials and alter a user’s address, diverting funds to the attackers’ address during withdrawals.

“Upon further investigation, we were able to trace its source to a telegram group called Ukraine ROBOT that had been posting messages related to cryptocurrency mining since early 2023. This group’s profile directly points to the phishing website where the malware was downloaded,” Trend Micro’s report read.

Later, the malware was found in Happy Miner, GPTalk, and SynthNet apps. An interesting feature of CherryBIos malware is that it exploits OCR (optical character recognition) to read mnemonic phrases found in images on a compromised device and send the data to a C2 server.

These phrases are specifically helpful when users want to restore a crypto wallet. It is a notorious Android banking trojan that first requests Android accessibility permissions to perform malicious activities. These permissions are designed for people with disabilities and help them interact with the device via gestures and perform tasks like reading screen content aloud or automating repetitive tasks.

FakeTrade Campaign

In the FakeTrade campaign, malware operators use numerous fake money-earning apps that appear to be e-commerce platforms, promising increased income through referrals and top-ups. The malware (AndroidOS FakeTrade.HRXB), hidden inside the apps, prevents users from withdrawing funds.

Researchers found approximately 31 fake Android apps distributing the FakeTrade malware, most of which were designed for shopping or persuading users to complete various tasks in order to earn money or purchase app credits to top up their accounts. However, those who fell for this trap were unable to withdraw funds when they attempted to do so. Most of the apps were uploaded to Google Play in 2021, with some appearing in 2022.

Researchers suspect that the threat actors behind these campaigns aren’t targeting any specific region, considering the languages used in their analyzed samples. This means their victims could be dispersed worldwide, as attackers can conveniently replace resource strings and upload these fake apps to different Google Play regions such as Vietnam, Mexico, Indonesia, the Philippines, and Uganda.

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