{"id":16379,"date":"2023-01-12T13:07:42","date_gmt":"2023-01-12T13:07:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/germanys-financial-watchdog-warns-of-godfather-malware-attacks-on-crypto-apps-security-bitcoin-news\/"},"modified":"2023-01-12T13:07:42","modified_gmt":"2023-01-12T13:07:42","slug":"germanys-financial-watchdog-warns-of-godfather-malware-attacks-on-crypto-apps-security-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/germanys-financial-watchdog-warns-of-godfather-malware-attacks-on-crypto-apps-security-bitcoin-news\/","title":{"rendered":"Germany\u2019s Financial Watchdog Warns of \u2018Godfather\u2019 Malware Attacks on Crypto Apps \u2013 Security Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The agency overseeing the financial sector in Germany has issued a warning about the \u2018Godfather\u2019 malware attacking banking and crypto applications. Hundreds of these platforms have been targeted, the regulator noted, including those operating in the Bundesrepublik.<\/strong><\/p>\n

Financial Authorities Advise Germans How to Protect Their Mobile Apps From Malware<\/h2>\n

The Federal Financial Supervisory Authority of Germany (Bafin<\/a>) has warned consumers about the threats from a malicious software known as \u2018Godfather.\u2019 The Trojan often mimics a legitimate app and records user input when accessing fiat and crypto accounts.<\/p>\n

In a notice published on Monday, the watchdog pointed out that Godfather has already attacked around 400 banking and cryptocurrency apps, including those developed by financial institutions operating in Germany.<\/p>\n

It is yet unclear how precisely the malware loads onto the targeted devices but it usually launches as a fake interface of a regular banking or crypto application to collect login information and transmit it to cybercriminals, Bafin explained.<\/p>\n

The malware also sends push notifications to obtain codes generated for two-factor authentication purposes. The acquired data allows hackers to gain access to customer accounts and digital wallets, the press release detailed.<\/p>\n

In November, Germany\u2019s Federal Office for Information Security (BSI) published<\/a> a video providing consumers in the country with practical tips on how to safely use their mobile apps.<\/p>\n

Godfather is designed to infect and take control of Android-based devices in order to download and install other malicious software. It may also use them to send messages, including spam, and for conducting denial-of-service (DDoS<\/a>) attacks.<\/p>\n

The all-time highs of 2021 provoked an increase in attempts to steal coins, including hackers using fake apps<\/a> to drain wallets. However, according to recently released blockchain security data, crypto incidents involving hacks, code exploits, and exit scams reached<\/a> a record low for 2022 last month.<\/p>\n

The negative market developments also took a toll on the industry. In the aftermath of the collapse of major players such as crypto exchange FTX, Bafin issued a call in mid-December for global regulations<\/a> ensuring better protection for consumers in the space.<\/p>\n

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\nTags in this story
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accounts<\/a>, android<\/a>, applications<\/a>, Apps<\/a>, Attacks<\/a>, banking apps<\/a>, Crypto<\/a>, crypto apps<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, german<\/a>, Germany<\/a>, Godfather<\/a>, Hacks<\/a>, Malware<\/a>, mobile apps<\/a>, regulator<\/a>, Trojan<\/a>, Wallets<\/a>, watchdog<\/a><\/div>\n<\/div>\n

Do you expect attacks through malware like Godfather to increase in the future? Share your thoughts on the subject in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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