So what does a Trojan do on your phone? Simple- it disguised itself as an antivirus application before it took over your phone and spied on your banking activities and other activities.
What’s the software named? It’s an update for the applications “Mr Phone Cleaner” and “Kylhavy Mobile Security”. Not being an android user, I don’t know if these are false updates for legit apps or if they’re standalone malware. I assume they’re legit apps because nobody is going to just install an update for an app they don’t have. Between the two they have 60,000 downloads.
Yes, this software can steal your banking credentials. And yes, it can also transfer funds.