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A new Android banking Trojan that uses a variety of human and artificial intelligence to steal from victims is targeting the payment system that millions of people rely on.
According to at cybersecurity firm Zimperium, the PixRevolution banking malware targets users of Brazil’s PIX payment app by tracking them in real-time and draining their money when they initiate transactions.
Per Zimperium, the PixRevolution banking malware drains money in five ways that involve manipulating victims into making PIX payments.
When it detects that a PIX has occurred, the malware notifies its command and control server, which then alerts the AI or human assistant to begin monitoring the victim’s screen in real time. Once the money transfer process starts, the agent sends a command that intelligently switches the recipient to the attacker’s preferred account.
“What distinguishes this threat from common banking trojans is its basic design: a human operator or AI operating remotely, checking the victim’s phone immediately, ready to take action at the moment of action.”
Zimperium says victims often don’t notice anything unusual because their banking software works fine and they receive all the necessary guarantees to ensure a successful transaction. According to Zimperium, it was only later that the victims realized that the money had been sent to the wrong recipient.
“And because the transfer of PIX is immediate and permanent, recovery is very difficult.”
The PIX payment system handles more than three billion transactions every month and boasts more than 150 million users.
Some of the financial institutions targeted by the PixRevolution banking malware are Santander Brasil, Banco do Brasil and Nubank. In 2021, the financial group associated with the famous investor Warren Buffett, Berkshire Hathaway, he put $0.5 billion in Nubank.
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