BaFin, Germany’s Financial Regulator, Warns Android Users of Cryptocurrency!

Cryptocurrency The increasing popularity of units brings risks with it. bitcoin And with the global adoption of cryptocurrencies comes an increased risk of crypto fraud, hacking and malware attacks.

Malicious people are trying every possible way to steal investors’ assets.

Germany’s Federal Financial Supervisory Authority (BaFin) Has Issued A Warning For Cryptocurrency Users Using Android

Even if you are aware of such attacks, you may unknowingly become a victim of them. Germany’s Federal Financial Supervisory Authority (BaFin) warned users against Android-based malware in one of its latest statements. Dubbed the “Godfather,” the malware targets cryptocurrency and banking mobile apps.

According to the details in BaFin’s consumer protection statement, the malware in question attacked 400 banking and crypto apps. These include some operators in Germany. According to a PCrisk report, 200 banking apps, 100 cryptocurrency exchanges, as well as 94 crypto wallets were affected.

The German financial regulator explains that it is unclear how the malware reached consumers’ devices. “The Godfather has been known to create fake websites for regular banking and crypto apps.

According to the statement of the German authorities, when users log into their accounts through these fake websites, their information is transmitted to hackers.

BaFin also warned that the Godfather has hijacked two-factor authentication codes by sending push notifications. Android devices are more vulnerable to such attacks and are often warned to stay away from downloading apps from unverified sources.

*Not investment advice.