Although complicated, the best way to remove this is format your phone and flash again your firmware or Stock Rom. For alternative way ,you need Titanium Backup Pro to freeze this malware to prevent from installing unwanted application.
Requirements:
Rooted
Titanium Back Up Pro
Procedure:
1. Install Titanium Back Up Pro. Tap Backup/Restore. Then Tap MonkeyTest and TimeService.
Tap Freeze.
2. Go to settings > Security>uncheck Unknown sources
This time will also prevent installing application from other source.
3. Go to settings > Security> Slide On App permissions
Conclusion:
This malware still under investigation. And still we don't know their main purpose and no reports of hacked account. This is an alternative tutorial only to prevent installing unwanted app without permission. It's up to you if you want to remove or ignore it. I just warned you. And remember the famous quote,"Prevention is better than Cure".
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