The latest one is the discovery of new malware applications by Lookout Mobile Security targeting the Android mobile operating system. There are four infected apps (Quick FallDown, Scientific Calculator, Bubble Buster, Best Compass & Leveler) were published to the Android Market by a developer by the name of "MobNet".
Citing from H-Online:
This is the third time that DroidDream or one of its variants has been discovered in the Android Market this year. DroidDream was first spotted in early March, after which Google pulled more than 50 applications from the Market. At the end of May, the DroidDream Light variant surfaced and Google removed a further 34 apps. The latest malware was quickly removed by Google, limiting the total number of downloads to 1,000-5,000, according to Lookout.Google should have done better to prevent this kind of threat by adding some verification phase before a user-submitted apps gets published on their Android Market just like what Apple did. It will not prevent users to download from third-party repositories, but that will be their risk by doing so (just like when we wanted to install from Cydia and third party repository providing many other iOS apps).
This just add another reason to postpone buying an Android phone despite their market share is growing so fast right now. I still prefer iPhone and hoping to get iPhone 5 (one of my wishlist)