Zimperium zLabs has identified a new version of the GodFather Android banking malware that uses on-device virtualization to infiltrate legitimate banking and cryptocurrency applications. This malware creates an isolated virtual environment on the victim's device, allowing attackers to observe and manipulate user interactions in real time. It employs a malicious host application with a virtualization framework that downloads and executes a copy of the targeted app, capturing credentials and sensitive information. GodFather targets nearly 500 applications globally, particularly focusing on Turkish financial institutions. It utilizes evasive tactics, including ZIP manipulation and obfuscation, to evade detection and installs its payload through a session-based dropper technique. The malware retains traditional overlay attacks and has extensive remote control capabilities, posing a significant threat to mobile security and user trust.