A new “highly capable” mobile banking malware dubbed “Crocodilus,” targets Android devices, extorting sensitive crypto wallet credentials using social engineering tactics.
A recent research by cybersecurity firm Threat Fabric found the emergence of a new malware family Crocodilus. The malware is reportedly distributed through a proprietary dropper that bypasses Android 13+ restrictions.
“Despite being new, it already includes all the necessary features of modern banking malware: overlay attacks, keylogging, remote access, and ‘hidden’ remote control capabilities,” analysts noted.
Sophisticated Android malware designed to steal cryptocurrency private keys isn’t new. In October 2024, the FBI issued a warning about a similar malware called SpyAgent, which was linked to North Korean hackers.
However, what differs in the new mobile banking Trojan Crocodilus is the “device takeover and advanced credential theft,” Threat Fabric wrote on X.
Crocodilus Displays Overlays to Target Banks and Cryptos
Crocodilus malware works on a modus operandi similar to modern “Device Takeover banking Trojan,” analysts noted. After initial installation via a proprietary dropper, the malware requests “Accessibility Service” to be enabled, they added.
In order to intercept credentials, Crocodilus connects to the command-and-control (C2) server for instructions such as overlays to be used.
Further, the threat initially appeared in Spain and Turkey, targeting several crypto wallets, the Mobile Threat Intelligence team revealed.
“We expect this scope to broaden globally as the malware evolves,” the team noted.
Additionally, the two-factor authentication (2FA) is bypassed by the malware using RAT command that triggers a screen capture on the content of the Google Authenticator application. Crocodilus captures the code displayed on the screen in the Google Authenticator app, and sends to the C2.
Malware Instructs Victims to Do the Job
Unlike other Trojans, Crocodilus overlays target crypto wallet by asking victims to take a backup of their wallet keys.
“Back up your wallet key in the settings within 12 hours. Otherwise, the app will be reset, and you may lose access to your wallet,” the overlay text reads.
This social engineering hack guides victims to navigate to their seed phrase. This inturn allows Crocodilus to extract the text using its Accessibility Logger.
“With this information, attackers can seize full control of the wallet and drain it completely,” Threat Fabric analysts said.
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