Computerworld 7/11/11: Researchers uncover more Android malware on Google's Market

Warning on "DroidDream Light" malware which is being spread through Google's official site and Chinese app stores:

"Once on an Android smartphone, DroidDream Light can prompt owners to download other apps from the market, bait users with a malicious URL or even automatically download more apps to the device."

Another threat is called "HippoSMS": "Its makers are monetizing the malware by forcing an infected smartphone to text a premium number -- attackers are paid a portion of the revenues earned by such numbers -- but they're also trying to hide that behavior from users."

See full Computerworld article.