Serious security flaws are revealed in Google Inc. (NASDAQ:GOOG)’s Android apps, which is being disclosed by a team of university security researchers. The security researcher’s team claims that Android Apps are overwhelmed by faulty encryption, because 41 Android apps, which were downloaded by as many as 185 million users have insufficient SSL protections and can leak information between devices and web-servers.
This security hole in Google Inc. (GOOG)’s Android Apps can be exploited by hackers. Hackers can steal personal data related to social network credentials, e-mail, and instant message content or even online banking details and much more.
The faulty SSL protection that was found on Android Apps is an antivirus application which can make personal information accessible on Android devices running Ice Cream Sandwich (Android 4.0).
The university researchers don’t specify apps more specifically that have this security flaw, but they are insisting that the programs have been downloaded between 39.5 million and 185 million times, based on Google Inc. (GOOG)’s statistics.
To give proof to these charges of security flaws in Android Apps, university researchers connected the devices through a local network and showed how their security protocols can be exploited.
A team of researcher, from Germany’s Leibniz University of Hannover and Philipps University of Marburg, said that they could gather payment credentials for PayPal, bank account information, American Express, even access to IP cameras was gained and control channels for apps and remote servers could be subverted and other information can also be compromised like Facebook, email and cloud storage credentials and messages.
In the last session, shares of Google Inc (NASDAQ:GOOG) began with a price of $681.01 and reached maximum highs of $684.63 throughout the session, finally slipped -0.46% to $678.67.
GOOG’s shares price was -9.15% from its 20 days moving average, and -4.66% from 50 days moving average. Earnings per share of GOOG for this current year got a boost of 13.10%
GOOG’s weekly performance was -8.41%, monthly was at -7.54%, quarterly was 11.70% and yearly was 14.93%.