Security researchers at McAfee Labs have identified 15 malicious Android apps that contain malware known as SpyLoan.
These apps have been downloaded over 8 million times from the Google Play Store.
These predatory loan apps disguise themselves as legitimate financial services, luring unsuspecting users into downloading them.
SpyLoan apps masquerade as legitimate loan providers under deceptive names and logos, creating a false sense of trust.
Once the loan is disbursed, users often find themselves trapped in high-interest repayment schemes.
The threat of Android apps like SpyLoan is a global issue that exploits users trust and financial desperation.
SpyLoan apps operate with similar code at app and C2 level across different continents.
This suggests the presence of a common developer or a shared framework that is being sold to cybercriminals.
source: www.techworm.net
