In its latest investigation report, McAfee warns about SpyAgent, a malware capable of stealing a seed phrase stored on its victim's Android smartphone. How does the program work and how to protect yourself from it?
SpyAgent, the malware that seeks to steal cryptocurrencies
In a report published Friday, McAfee antivirus teams detail how the SpyAgent, a recently identified malware targeting Android smartphonesThe goal of this malware is to steal any mnemonic phrases stored on the victim's phone, the famous 12 or 24 words symbolizing the private key of a crypto wallet.
To infect a phone, this program slips into fake applications promising various services, ranging from banking to streaming for example:
However, once installed, these fake apps secretly collect and send your text messages, contacts, and all stored images to remote servers. They often distract users with endless loading screens, unexpected redirects, or brief blank screens to hide their real activities.
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To act, The malware will then request access to the device's contacts and imagesand would also be able to send phishing messages to registered contacts.
For now, South Korean users are said to be the main targets, and McAfee's research teams have identified more than 280 fraudulent applications embedding SpyAgent since last January.
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How to protect yourself against such a risk?
In reality, such viruses are nothing new and have been present in the crypto ecosystem for several years. Last year, Charles Guillemet, Ledger's CTO, explained how they work in an interview.
However, whenever one of these malwares makes headlines, it is good to recall some security basics to protect yourself from such attacks. Thus, the most crucial point is the following: never store a private key or mnemonic phrase on your phone. This recommendation is also valid for a computer, or any other device capable of connecting to the Internet.
In this specific case, increased attention should also be paid to downloaded applications, especially when one of them does not come from the official Store, such as an APK file. If you are not completely sure of what you are installing, it is better to change your mind.
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Finally, it is important to be vigilant about the permissions granted to an application. For example, a price tracker requesting access to the phone's images could be a point of distrust.
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Source: McAfee
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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