Hard to say for sure. They may have legitimately found something, but my experience with McAfee products has been abysmal. The last time I dealt with it, someone had the full paid version of their virus scanner which was up to date but wasn't finding anything. I ran the free version of AVG and found over 200 items (mostly trojans and other malware). Their research may be valid, but I certainly wouldn't trust any of their software to find even widely-known issues.
There’s no indication that any of the apps were available through Google Play.
So it's just users installing untrusted apps to their phone?
scour infected phones for text messages, contacts, and all stored images
They also can't do that without the user explicitly giving the app permission to do those things, unless they found an exploit or something, but the article doesn't say that.
Also, why would you have images with passwords in them on your phone anyway?
People really should know better nowadays than to do any of this shit. Every step here is preventable by the user just thinking about what they're really doing.
A lot of cryptowallets let the user log in with a randomly generated combination of words. They often ask the user to write those down on paper. However, some people just screenshot that. This malware looks for those combinations specifically.
Huge distrust in both the company and the man himself even after leaving the company. But I must say the world got a little more dull and gray when he died.