Researchers recently discovered an updated version of mobile banking trojan FakeToken after detecting around 5,000 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.
However, it is still capable of inflicting losses as it obtains access and information from victims’ bank accounts, as well as use its funds to send messages. Users are cautioned on the apps they download as this malware’s behavior undergoes further observation and monitoring.
Source: Trend Micro