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Blackhole Exploit pack Targets Mobile Banking Services

According to a report released by antivirus software developer AVG, there’s a substantial increase in malevolent software and ads with hidden malware behind images posed on social media.

The report displays that Blackhole continues to have the largest malware market share with 63% and has nearly 76% share of toolkits in the market.  With the release of Blackhole Exploit toolkit version 2.0 in September, it’s anticipated that users will see an growth in the malware’s damaging capabilities, gain in market share and greater impact to users. AVG warns that users should expect more aggressive attacks from the new version of Blackhole.

AVG Threat Labs has also detected that Blackhole is being spread on social networking site such as Facebook.  According to Yuval Ben-Itzhak, AVG Technologies Chief Technology Officer, Blackhole is growing more complex and powerful due heavily complicated code which makes it difficult for antivirus solutions to detect. Developers update the kit regularly for their customers, making it more challenging for antivirus to detect.

As banks embrace mobile money services, they have become profitable and popular targets for cyber criminals  The new version of Blackhole can intercept authentication process and leave target’s account empty in one click.

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