Spynote Android Malware Targeting Financial Institutions

Android Malware Financial Institutions

Since October 2022, a new version of Android malware known as SpyNote (aka SpyMax) has been targeting financial institutions as a means of stealing information. It is interesting to note that this new version incorporates both the characteristics of spyware and banking trojans.

ThreatFabric recently reported that it has become a familiar phenomenon for attackers to use Android Spyware in order to gain access to sensitive data and commit fraud and steal personal information from their victims.

As a result of the developer of the spyware making the source code public, there has been an increase in the number of users, which is the result of the spyware being sold to other actors previously.

SpyNote Targeting Financial Institutions

This has facilitated the development and distribution of spyware by other actors, who often target banks as well. It is worth noting that the malware impersonates a number of notable institutions, including those listed below:-


  • Deutsche Bank
  • HSBC U.K.
  • Kotak Mahindra Bank
  • Nubank
spyware pages

In addition to its many features, SpyNote has a wealth of capabilities that can enable it to install and uninstall any application on your device or even execute arbitrary code.

Additionally, it requests access to accessibility services in a manner similar to other banking malware. This is done in order to carry out the following illicit activities:-

Moreover, SpyNote provides a wide range of features regarding password burglary, including hacking Facebook and Google accounts, as well as the ability to take screenshots using Android’s MediaProjection API in order to capture screen content.

Capabilities of SpyNote

Here below we have mentioned all the key abilities of the SpyNote:-

  • Phishing
  • Smishing
  • SMS collection
  • Contact Collection
  • Call list
  • Capture Screen
  • Key logger
  • 2FA Grabber
  • hRAT
  • Prevent Uninstall (ally)
  • AV evasion

Besides masquerading as an official Google Play Store service, it has also been found to masquerade as a generic application. Listed below are a few artifacts that are commonly delivered through smishing and are responsible for SpyNote being accurate:-

  • Bank of America Confirmation (yps.eton.application)
  • BurlaNubank (com.appser.verapp)
  • Conversations_ (com.appser.verapp )
  • Current Activity (com.willme.topactivity)
  • Deutsche Bank Mobile (com.reporting.efficiency)
  • HSBC UK Mobile Banking (com.employ.mb)
  • Kotak Bank (splash.app.main)
  • Virtual SimCard (cobi0jbpm.apvy8vjjvpser.verapchvvhbjbjq)

It is estimated that between August 2021 and October 2022, SpyNote.C was purchased by 87 different buyers after it was advertised through a Telegram channel called CypherRat by the developer of the program.

However, since CypherRat became open-source in October 2022, the number of samples detected in the wild has increased dramatically as a result of open-source availability. It has been suggested that some criminal groups are using the malware to co-opt the programmer to further their own criminal agendas.

ThreatFabric has since remarked that the actual author has begun work on CraxsRat, a similar spyware application that will be offered as a paid service.

There are always new and innovative threats being presented to mobile users as Android Spyware evolves and becomes increasingly prevalent in the Android ecosystem.

In addition to monitoring the mobile threat landscape, ThreatFabric’s researchers follow the activities of various actors and campaigns to ensure that they are always up to date and help users in mitigating such scenarios.

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