According to a security report from Zimperium zLabs, the trojan malware can be found in over 200 malicious apps approved to appear on the Google Play Store. It also was found in third-party app stores. At this point, Zimperium says that the trojan has managed to steal tens of millions of dollars from its victims.
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The way that Grifthorse works is by bombarding users with a ton of notifications about prizes and special discounts. They are then sent to a web page, where they are asked to sign up with their phone number to confirm entry.