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The Android malware is targeting Turkish financial institutions, completely taking over legitimate banking and crypto apps by creating an isolated virtualized environment on a device.
The data-stealing malware initially targeted users in Turkey but has since evolved into a global threat.
With an immature codebase and a "rather chaotic encryption scheme" prone to failure, the group targets small businesses with custom malware.
While still under development, the malware contains Turkish-language filenames, can record the screen and keystrokes, and inject custom overlays to steal passwords and sensitive data.
The newly discovered malware, which has so far mainly targeted Turkish telcos and has links to HiatusRat, infects routers and performs DNS and HTTP hijacking attacks on connections to private IP addresses.