Crypto wallet owners in Korea should be wary of a new type of mobile malware designed to steal seed phrases, cybersecurity firm McAfee warns.
A seed phrase is a collection of 12 to 24 random words used to restore access to a crypto wallet.
McAfee researchers remark the new malware threat, called SpyAgent, has disguised itself as more than 280 fake apps, masquerading as services ranging from banking to TV streaming to government and utilities.
The fake apps, which have been active in Korea since early this year, extract user data from text messages, contacts and saved images and send the information to remote servers to be scanned for seed phrases.
McAfee blogger Sang Ryol Ryu says the malware spreads through phishing campaigns that use text messages and social media posts to spread malicious links.
“The attackers behind these messages often pose as organizations or people you trust and trick you into clicking on their links. Once you click on them, these links will take you to fake websites that look incredibly real and mimic the appearance of legitimate sites. These deceptive sites usually ask you to download an app. This way, the malware will be installed on your device. Be careful and always verify the authenticity of a message or link before clicking on it.”
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