Researchers Lukáš Štefanko and Jakub Osmani noted that NGate malware can uniquely relay data from victims' payment cards to an attacker's rooted Android phone, facilitating fraudulent activities.
The attacks involve social engineering tactics to trick users into installing NGate, using phishing methods that direct victims to short-lived domains mimicking legitimate banking platforms.
NGate activities suggest a sophisticated approach to financial theft, with its origins traced back to an innocent tool for security research that was co-opted for criminal purposes.
The malware enables attackers to clone NFC data from victims' cards, allowing them to withdraw money from ATMs, highlighting a new threat against contactless payment systems.
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