The app attempts to steel money, private data including photos. by downloading malware onto the Android smartphones that it was installed on.
The malicious app named Squid Game Wallpaper by XEXO studios has already been downloaded by over 5,000 users from the Google Play Store.
The Joker malware, as used in this app, has had a notorious past with Android apps on Google Play Store and its resurgence with the Squid Game wallpaper app only shows that threat actors are still looking for new ways of using it to target gullible victims.
The finding is a shining example of how apps of unverified origins can potentially be harmful for your device. As a golden rule against such risks, make sure that the apps you download on your phone are from verified origins and have a strong and trustworthy background.