CryptoLocker type viruses are nasty, they are designed to extort money from you and they do this by encrypting your files so you pay, or lose everything. And now, a similar virus has arrived on Android.
Called Simplocker, it's not as nasty as the PC variants, and it can only encrypt files on your microSD card, rather than your phone's file system. As with the Windows viruses, users would need to pay a ransom to get access to their files. This is usually done via a Bitcoin transfer, as these are far harder to trace by law enforcement.
The virus, according to Antivirus company ESET, has been discovered on a Tor domain, which is often where such nefarious things lurk. The virus leaks data back to the author too, including the phone's IMEI number. So far the firm has only seen the virus in Russian, but that doesn't mean it won't rear its ugly head elsewhere in the future.
There are several virus threats to Android devices. Most are pretty unsophisticated though, like lockscreens and pop-up messages warning that your phone has been used to look at porn, and as such is blocked by the police. The goal is always the same though, to get users to cough up some money to get away from the problem.