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Google Play Store Suffered From SimBad Malware, Are You Affected?

Google play store suffered from simbad malware, are you affected?

Google Play Store Suffered From SimBad Malware, Are You Affected?

Simbad malware
nastya_gepp / Pixabay

A group of security researchers at Check Point dug out an advanced vulnerability called SimBad malware, which attacks games in the Google Play Store. What’s even more scary is that there are over 200 affected apps that have been downloaded by a total of around 150 million Android users, which could have likely exposed themselves to the malware.

The malware is relatively hard to catch because it disguises itself as an ad, something that all games that are available for free have in order for developers to drive revenue. The researchers reported on their blog that SimBad malware hides itself mostly in the simulator games.

Their further research uncovered that the malware that affects millions of Google Play store users is hidden behind the software development tool called SDK, which is used for marketing and other different profitability purposes, making it even harder to find.

How does the SimBad malware work?

Since it’s an ad, it can easily redirect its victims to a vulnerable website if they accidentally tap on the ad, or can have automatic redirection. The website takes users to download more malicious apps from the Play Store or some other remote server, exposing them to the malware even more. A commonly used approach in this is to perform phishing attacks, where users are redirected to some popular websites where the payment option system exists and they might enter their credentials, for example PayPal.

Researchers at Check Point, Elena Root and Andrey Polkovnichenko, wrote that the malicious tool can even be used to manipulate with developers who don’t realize it’s there. However, they don’t know what the real intent is behind the SimBad malware development, as the attack doesn’t seem to be targeted toward a specific region, nor was it developed by the same developer.

Once a device, for example a smartphone or tablet, is infected by the malware, the app will hide its program icon but continue playing ads once the app which brought the malware is running. It will play ads in the background, generating fraudulent revenue. That way, by working silently in the background, the malware won’t cause suspicion or catch someone’s attention.

Researchers at Check Point note that aside from the simulator games, other SimBad malware-affected apps include photo editors, wallpaper apps and other apps with a similar concept. Here are ten apps with the most downloads that were affected by the malicious malware.

  1. Snow Heavy Excavator Simulator (10,000,000 downloads)
  2. Hoverboard Racing (5,000,000 downloads)
  3. Real Tractor Farming Simulator (5,000,000 downloads)
  4. Ambulance Rescue Driving (5,000,000 downloads)
  5. Heavy Mountain Bus Simulator 2018 (5,000,000 downloads)
  6. Fire Truck Emergency Driver (5,000,000 downloads)
  7. Farming Tractor Real Harvest Simulator (5,000,000 downloads)
  8. Car Parking Challenge (5,000,000 downloads)
  9. Speed Boat Jet Ski Racing (5,000,000 downloads)
  10. Water Surfing Car Stunt (5,000,000 downloads)

Fortunately, the security researchers from Check Point have already informed Google about the malware, with the apps being removed from the Play Store for good. Nevertheless, if you have installed some of these apps to your phone, make sure to check this list, or visit Check Point’s blog to see a full list of affected apps.

The post Google Play Store Suffered From SimBad Malware, Are You Affected? appeared first on ValueWalk.

Published at Tue, 19 Mar 2019 06:56:23 +0000

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Bitcoin trading at a premium on bitfinex and poloniex

Bitcoin Trading at a Premium on Bitfinex and Poloniex

While bitcoin tends to have slight price premiums and discounts in different currency markets like the CNY or INR, some exchanges are now trading bitcoin with a considerable premium. Bitcoinist explains why.


Bitfinex and Poloniex Price Premium

A quick look at the Bitcoin prices from all exchanges in the field and one will notice a small anomaly. Both Bitfinex and Poloniex are trading bitcoin with a +$50 premium on the USDT market. While most exchanges currently have an exchange rate of 1 BTC/ 1,200 USD, both Poloniex and Bitfinex are trading at roughly 1 BTC/ 1,260 USD.

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This premium is due to the difficulty experienced in withdrawing fiat currency from these exchanges, in this case, the U.S.Dollar. While Bitfinex seems to be experiencing problems on the fiat side due to recent complications with partner banks, there also seem to be some problems with liquidating the USDT cryptocurrency token that replaces the USD currency on the Poloniex exchange.

It turns out, however, that both exchanges are being affected by the same problem: Wells Fargo.

Bitfinex trading BTC at a premium

Bitfinex

Last week, Bitfinex published a blog post regarding delays in processing USD withdrawals. Although Bitfinex doesn’t state what the exact problem is, the situation is believed to be connected with the problems experienced with the Wells Fargo bank which stopped processing transfers from the Taiwanese banks used by Bitfinex. Since then, Bitfinex has decided to file a lawsuit against the bank and is seeking a preliminary injunction as well as damages of more than $75,000. The announcement reads:

Bitfinex is currently experiencing delays in the processing of outbound USD wires to customers. The normal channels that we have been operating through in the past are currently unavailable. Alternative channels are being opened to solve these transmission delays; however, the complexity and scale involved mean that it is taking some time to return to normal withdrawal velocities. Consequently, customers requesting USD wires should expect delays as we work to normalize the withdrawal process. USD deposits remain unaffected.

However, since then, the situation has escalated and despite the reference made by Bitfinex to the USD deposits remaining unaffected, a new announcement was posted yesterday, stating that USD deposits are being blocked. The new statement enforces the notion that the problems are indeed due to the complications with Well Fargo and Bitfinex’s Taiwanese banks. The announcement reads:

Beginning April 18, 2017, all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks. This applies to all fiat currencies at the present time. Accordingly, we ask customers to avoid sending incoming wires to us until further notice, effective immediately.

As users struggle to withdraw USD, those that are not willing to wait for the operations to return to normal may be pushing the price upward as they buy bitcoin in an attempt to move funds out of the exchange and liquidate them elsewhere at a loss. Other may be taking advantage of the situation and selling for a higher price, hoping that withdrawals will eventually resume, pushing the price back to the average exchange rate.

Poloniex - Tether - USDT

Poloniex

The problems on Poloniex’s side seem to derive from the USDT (Tether) cryptocurrency token. Poloniex does not allow fiat withdrawals or deposits and works instead with USDT,  a crypto asset issued on the bitcoin blockchain through the Omni Layer.

This may cause some liquidity problems for users that are not aware how to exchange USDT for USD. The main USDT/USD market is, in fact, Bitfinex, which is currently experiencing the aforementioned issues with deposits and withdrawals. Other markets like Kraken seem to be trading USDT/USD at a discount, currently going for $0.941, meaning that users that sell bitcoin for USDT and then withdraw it through Kraken are doing so at a loss. Other USDT/BTC markets like Bittrex are also seeing a premium for BTC.

Users could still exchange the cryptocurrency for USD on the official Tether website but there’s a problem: Tether was also working with Wells Fargo to process customer in and outgoing transaction but the bank decided to freeze operations, affecting both Tether and Bitfinex.

So, we can see that both Poloniex and Bitfinex are being affected by the same problem which is being caused by Wells Fargo. It is unclear when the situation will be resolved but it’s worth noting that Tether has no legal obligation to resume withdrawals, although they most likely will. The website’s legal warning reads:

There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

Have you been affected by the withdrawal issues on Bitfinex or Poloniex? Let us know in the comments below.


Images courtesy of Bitfinex, Poloniex, AdobeStock

The post Bitcoin Trading at a Premium on Bitfinex and Poloniex appeared first on Bitcoinist.com.