Crypto wallet owners in South Korea are being warned about a new mobile malware threat called SpyAgent which is designed to steal seed phrases. The malware poses a significant risk as seed phrases are necessary for regaining access to a crypto wallet. McAfee researchers have identified over 280 fraudulent applications that masquerade as legitimate services and collect user data, which is then scanned for seed phrases. The malware propagates through phishing campaigns, using malicious links in messages and social media to direct users to fake websites that prompt them to download seemingly legitimate applications. McAfee emphasizes the need for users to be cautious, avoid downloading apps from third-party sources, regularly scan their devices, verify the authenticity of messages and links, increase awareness, and keep devices updated. Raising awareness and taking precautions are crucial to safeguard against such malware threats. Crypto wallet owners should take proactive measures to bolster their security.



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