Beware: This cryptocurrency-mining Android malware may damage your smartphone

Cryptocurrency and cryptocurrency-mining have become buzz words in the past few months across the business and tech industries. Users have been investing both time and money in cryptocurrencies (for instance Bitcoin) with an aim to make for money quickly (and while they can in some countries). And the quickest way to get info on them or invest is through apps.

But then as we already know, malware comes in all kinds of shapes and sizes (apps and software). This time, a new currency-mining Android malware has been found. Named ‘Trojan.AndroidOS.Loapi’ this is not a regular malware that just plays around with the software. It physically damages your Android smartphones as well.

As reported by Ars Technica, the new-found malware shows Android users an endless series of ads as a part of DOS (Denial-of-Service) attack. The malware is also said to send text messages to any number and subscribing to paid services without informing users.

However, the most highlighted issue that comes as a part of the malware is that it is a cryptocurrency miner that physically affects the smartphone. Trojan.AndroidOS.Loapi is said to be hidden inside apps distributed via third-party markets, browser ads and more.

Researchers from Kaspersky Labs have talked about the malware in length and breadth on the securelist.com website.

Apps coming with Trojan.AndroidOS.Loapi is said to mine one of the digital currencies called Monero, which is less resource-sucking than Bitcoin. The malware lets its creators generate new coins by using the smartphone’s electricity and hardware.

 

According to Kaspersky Lab researchers, the smartphone affected by the malware had its battery bulged within two days due to the stress given by the malware in taking out the electricity for mining Monero. Researchers also explain that once smartphone users give permissions to the third-party app that includes Trojan.AndroidOS.Loapi, it becomes difficult for them to download any security apps that can help them remove the malware.

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