Beware of Fake Indian Rewards Apps That Installs Malware on Your Devices

Microsoft 365 Defender Research Team analysed the new version of previously reported info-stealing Android malware, delivered through an SMS campaign. This new version has remote access trojan (RAT) capabilities, targeting the customers of Indian banks.

The Message contains links that points to the info-stealing Android malware, leading the user to download a fake banking rewards app.

The SMS Campaign Attack Flow

Researchers say, the fake app, detected as [TrojanSpy:AndroidOS/Banker.O], used a different bank name and logo compared to a similar malware reported in 2021.

“The malware’s RAT capabilities allow the attacker to intercept important device notifications such as incoming messages, an apparent effort to catch two-factor authentication (2FA) messages often used by banking and financial institutions”, Microsoft

This diagram illustrates the typical infection chain of this Android malware. The infection starts from an SMS message that contains a malicious link that leads to the malicious APK.This diagram illustrates the typical infection chain of this Android malware. The infection starts from an SMS message that contains a malicious link that leads to the malicious APK.
SMS Campaign Attack Flow

The command and control (C2) server is linked to 75 different malicious APKs, all of which are based on open-source intelligence. 

The research team identified many other campaigns targeting Indian bank customers, including:

  • Axisbank_rewards[.]apk
  • Icici_points[.]apk
  • Icici_rewards[.]apk
  • SBI_rewards[.]apk

While researching on icici_rewards[.]apk, it presents itself as ICICI Rewards. Initially, this SMS campaign sends messages that contain a malicious link, leading to install malicious APK on a target’s mobile device.

“To lure users into accessing the link, the SMS claims that the user is being notified to claim a reward from a known Indian bank”, Microsoft Researchers.

Upon user interaction, it displays a splash screen with the bank logo and proceeds to ask the user to enable specific permissions for the app.

App installed on the Android device, Asks users to enable permissions on text messaging and contacts

It also requests users to enter their credit/debit card information as part of a supposed sign-in process, while the trojan waits for further instructions from the attacker.

These commands let the malware to collect system metadata, call logs, intercept phone calls, and steal credentials for email accounts such as Gmail, Outlook, and Yahoo.

“This malware’s new version adds several RAT capabilities that expands its information stealing. It enables the malware to add call log uploading, SMS message and calls interception, and card blocking checks”, Microsoft

Mitigation

  • Download and install applications only from official app stores.
  • Android device users can keep the Unknown sources option disabled to stop app installation from unknown sources.
  • Use mobile solutions such as Microsoft Defender for Endpoint on Android to detect malicious applications.

Download Free SWG – Secure Web Filtering – E-book

Gurubaran

Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

Recent Posts

Cityworks Zero-Day Vulnerability Used by UAT-638 Hackers to Infect IIS Servers with Shell Malware

Cisco Talos has uncovered active exploitation of a zero-day remote-code-execution vulnerability, identified as CVE-2025-0994, in…

1 hour ago

Researchers Warn of ‘Smiao Network’ Cyber Threat Against Taiwan’s Federal Staff

The Foundation for Defense of Democracies (FDD) and cybersecurity firm TeamT5 has exposed an intricate…

2 hours ago

Vidar and StealC Malware Delivered Through Viral TikTok Videos by Hackers

A sophisticated social engineering campaign that leverages the viral power of TikTok to distribute dangerous…

2 hours ago

Halo Security Achieves SOC 2 Type 1 Compliance, Validating Security Controls for Its Attack Surface Management Platform

Halo Security, a leading provider of attack surface management and penetration testing services, today announced it has successfully…

2 hours ago

Hackers Deploy Weaponized npm Packages to Target React and Node.js JavaScript Frameworks

Socket's Threat Research Team, a series of malicious npm packages have been found lurking in…

2 hours ago

Malicious VS Code Extensions Target Windows Solidity Developers to Steal Login Credentials

Datadog Security Research has uncovered a targeted malware campaign aimed at Solidity developers on Windows…

2 hours ago