AI Trojan SparkCat Steals Crypto: 242K Infected, Apple & Google Act

The crypto world is abuzz with news of a new cyber threat, SparkCat, an AI-based Trojan virus designed to steal cryptocurrencies. First detected by Kaspersky, this stealthy app has raised serious concerns among institutional investors, as it can infiltrate seemingly innocuous apps like utilities, e-commerce platforms, and messengers.

SparkCat was first discovered in March 2024 and has since been downloaded over 242,000 times from both the Google Play Store and the Apple App Store. The virus uses Optical Character Recognition (OCR) to scan image galleries and machine learning to trace sensitive data on infected devices. Once scammers obtain vital crypto details, they can quickly siphon off hard-earned coins.

In the past three months, there have been several cases where crypto holders' accounts have been emptied in mere seconds. This is a significant failure for tech platforms and blockchains used by cryptocurrencies, as it highlights their vulnerability to sophisticated attacks.

In response to the threat, Apple and Google have acted swiftly, removing at least 20 infected apps from their stores. Google has also upgraded its Play Protect feature to better protect users from SparkCat. However, recent reports suggest that the virus is still active and present in unofficial app stores, posing an even greater danger.

The coding of SparkCat is in Mandarin, indicating a possible Chinese connection. However, no specific group of cyber hackers has been identified as responsible for the attacks. A Kaspersky manager has warned that the AI-powered attacks are highly sophisticated and difficult to defend against.

The potential impact of SparkCat on the crypto market is significant. Massive sell-off trends could occur, creating opportunities for the phishing virus to prey on frequent transactions. A single compromised transaction could open the door to infecting many other cryptocurrency accounts.

Analysts have emphasized the importance of advanced AI-based trading platforms investing in enhanced security measures to protect their stages and ensure transparency. This could pose a significant challenge for the crypto investment community, as they strive to stay ahead of increasingly sophisticated cyber threats.