This is not good: Two-Factor Authentication defeated

Two-factor authentication has long been seen as the ultimate security tool. It works by requiring a second-device for logging into the primary device. According to a blog post from Samsung, researchers have successfully tested an exploit that uses malware on an Android device to create s black door allowing attackers to circumvent two-factor authentication. Here is more:

The back door also has support for disabling and enabling silent mode, in addition to locking the device, so that the victim is not alerted during an incoming call.

Once the unconditional call forwarding is set on the victim’s device, the attacker—who has already stolen the victim’s credentials (the first factor in two-factor authentication and authorization)—can then initiate a transaction. As part of the design, when the system demands the victim to enter the second factor (i.e., the authorization token sent through a voice call), the attacker will get the call through call forwarding and enter the second factor as well to complete the transaction.