BaFin Warns of “Godfather” Malware, Targets Crypto and Banking Apps

Vignesh Karunanidhi
BaFin Warns of “Godfather” Malware, Targets Crypto and Banking Apps
Source: Bridewell

The rising popularity of cryptocurrencies comes with added risks. With global adoption also comes the risk of rising cryptocurrency scams, hacks, and malware attacks. The bad actors are trying all possible tactics to compromise and loot your assets.

Even though you may be aware of such attacks, you could fall prey to them unknowingly. In one of the latest issued statements, BaFin, The Federal Financial Supervisory Authority, warns users of Android malware. Dubbed the “Godfather,” the malware targets cryptocurrency and banking mobile apps.

Source: EDUCAUSE Review

BaFin says “Godfather” attacked 400 crypto and banking apps

According to the details from BaFin’s consumer protection statement, the malware has deployed its attack on 400 banking and cryptocurrency apps. These also include some from the operators in Germany. According to a PCrisk report, 200 banking apps, 100 cryptocurrency exchanges, and also 94 cryptocurrency wallets fell victim to the attack.

The German financial regulator clarifies that the method through which the malware reaches the devices of consumers is unclear. “Godfather is known to display fake websites for regular banking and crypto apps. “If consumers log in via these websites, their login data is transmitted to the cybercriminals.”

BaFin also warned that Godfather gets two-factor authentication codes by sending push notifications. Android devices are more prone to attacks of these sorts and are often warned to stay away from downloading apps from unverified sources.