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"Godfather" Crypto Malware Warning from German Regulator

"Godfather" Crypto Malware Warning from German Regulator

The Federal Financial Supervisory Authority (BaFin) has issued a warning about a crypto malware called Godfather.

According to the official notice, the malware in question is capable of recording user input in banking and cryptocurrency apps. The malware is able to target around 400 banking and crypto apps, including those operated in Germany.

German regulator stated that it was unclear how exactly the malware infects the devices of consumers. However, it was noted that “Godfather” malware disguises as fake websites of regular banking and crypto apps. Once a user enters their sensitive information into these fake applications or websites, the malware collects user login details and transmits them to cybercriminals.

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The malware is capable of sending push notifications to get the codes for two-factor authentication. With this data, cybercriminals may be able to gain access to consumers' accounts and wallets despite their high-security measures.

Although the warning has been issued just recently, this is not the first time the malware has been encountered. Group IB, a computer software company, first discovered the Godfather as a mobile banking Trojan in June 2021.

This Trojan was designed to steal the login credentials of users for banking and cryptocurrency exchange accounts. In 2022, the malware stopped being distributed. Analysts believe that this was a planned move so the developers could update it. The Godfather Trojan reappeared in September 2022 with slight modifications.

In other news, malware infects devices disguised as a Pokemon NFT card game.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



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