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Warning: Money in bank account evaporates when sideloading Android apps
You may have heard that you shouldn’t install packages from third-party websites on your Android phone. If you’ve ever wondered why people say that, here’s why: There have been reports of cybercriminals using the ToxicPanda malware to drain people’s bank accounts through infected sideloaded apps.
ToxicPanda infects Android devices via malicious sideloaded apps
As Android Headlines discovered, ToxicPanda malware is stealing people’s money through banking apps. The malware doesn’t infect any apps on the Google Play Store, as security systems are always closely monitoring cybercriminal activity. Instead, the bad actors create fake versions of real apps and then upload them to third-party websites for people to sideload. The criminals hope that people don’t realize the dangers of sideloading apps and let their guard down.
Once ToxicPanda is on someone’s device, it tracks what the victim does when using the banking app. Once it has enough information to compromise the target’s account, the app begins transferring money to the criminal’s bank account. In a ToxicPanda report published by Cleafy, researchers found that the malware is capable of transferring up to 10,000 euros (about $10,750).
The best way to avoid getting infected with ToxicPanda is to never sideload apps onto your Android phone. Always install them through Google Play, which has more security measures in place to keep your data safe. You should also add extra security measures to your bank accounts; for example, two-factor authentication can help keep hackers out even if they know your banking username and password.
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