Security News > 2020 > December > Emulated mobile devices used to steal millions from US, EU banks

Threat actors behind an ongoing worldwide mobile banking fraud campaign were able to steal millions from multiple US and EU banks, needing just a few days for each attack.

While emulators are not malicious tools, the group behind this campaign used them for malicious purposes emulating compromised devices or setting up what looked like new devices picked up by the compromised accounts' owners.

For setting up the emulated devices, the attackers used a dedicated tool capable of feeding device specs from a database of previously compromised devices, matching each of the spoofed devices with the account holder's banking credentials.

Access to device identifiers and data likely gathered via compromised mobile devices.

A set of virtual mobile emulators, dozens in each case, to amplify the ability to spoof a larger number of devices and cycle through new ones rapidly and at scale.

News URL

https://www.bleepingcomputer.com/news/security/emulated-mobile-devices-used-to-steal-millions-from-us-eu-banks/