Chinese Malware Apps: A Crypto-Stealing Saga

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Kaspersky has unveiled a nefarious plot dubbed SparkCat, a malware operation that infiltrated innocuous-seeming apps and pilfered crypto recovery phrases from unsuspecting users.

These cunning apps could have hoodwinked up to 242,000 individuals, but the exact amount of digital loot SparkCat managed to swindle remains a mystery.

Kaspersky Unmasks SparkCat

Kaspersky, one of the leading security firms, has uncovered a new data-stealing malware scheme called ‘SparkCat.’ The company has identified several similar malware attacks and security vulnerabilities over the past few years, earning itself a formidable reputation.

Today, the firm discovered a new trojan targeting crypto users.

“Our experts have discovered a new data-stealing Trojan, SparkCat, active in the App Store and Google Play since at least March 2024. SparkCat leverages machine learning to scan image galleries, stealing cryptocurrency wallet recovery phrases, passwords, and other sensitive data hidden in screenshots,” the firm claimed.

According to Kaspersky, apps infected with the SparkCat malware were downloaded 242,000 times. These scoundrels used several fronts to lure new victims, hiding the malware in food delivery apps, AI chat clients, and other seemingly harmless programs.

These apps would snoop through a user’s photo gallery, attempting to unearth their crypto wallet recovery phrases.

Kaspersky didn’t disclose how much money or crypto was stolen through SparkCat, but it was a highly sophisticated operation. It primarily targeted users in Europe and Asia, and the source code’s language led Kaspersky to deduce that the perpetrators were Chinese.

The infected programs have since been removed from app stores.

This incident is particularly noteworthy as crypto-related malware attacks were reportedly on the decline. Social media scams, particularly those involving meme coins, have netted huge returns using bold and well-constructed tactics.

However, Kaspersky’s research suggests that SparkCat ran a profoundly different operation.

As of now, it’s difficult to determine if SparkCat will be part of a new trend, as its efficiency is still being investigated. It managed to bypass an impressive amount of security and oversight protocols, but it nonetheless had a very indirect way of getting a payout.

The most insidious scams today use fake projects to prey upon investors’ greed. They don’t need this secrecy.

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2025-02-07 00:34