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Cryptocurrency booming is now attractive target for cybercriminals

The enormous evolution of cryptocurrency globally is now becoming an easy target for cybercriminals. Since, they are targeting crypto assets like Bitcoin, Ethereum, Zcash, Monero, and others. However, criminals are already succeeded with bitcoin wallets earning around $140,000.

Recently, researchers from Kaspersky Lab discovers a new malware that steals user’s crypto wallet. The researchers say that since 2014 stealers have been increasingly prevalence. Still, putting users’ crypto savings at risk.

CryptoShuffler Trojan

It has been many years now hijacking clipboard and redirecting users to vicious sites while targeting online payment systems. Withal, cases including a cryptocurrency host address are rare. Now, a new CryptoShuffler Trojan is designed, it allows to change the user’s crypto wallet address in the infect device’s clipboard.

In cryptocurrencies cases, if the user wants to transfers coins to another user, the recipient’s wallet ID is a must. Here are the guidelines how the CryptoShuffler activities the system’s need to operate the ID.

Also Read: Increasingly blockchain could help verifying criminal evidence

Once ready with priming, the malware starts to monitor the clipboard, users apply when making a payment. The process goes alike copying wallets number and pasting them into the endpoint address. Since it is being in use to carry out a transaction. Th CryptoShuffler Trojan replaces by the users’ wallet means when a user pastes the wallet ID to the destination addresses line. Since it is not the address they originally intend to send money. This result, the victim transfers his or her money directly to the criminals.

Particularly, the most of the cryptocurrency wallets have a constant position in the transaction line with certain numbers. Consequently, trespassers can easily create regular codes to replace them.

Not a far-off technology

Sergey Yunakovsky, malware analyst at Kaspersky Lab says,

“Cryptocurrency is not a far-off technology anymore. It is getting into our daily lives and actively spreading around the world, becoming more available for users, as well as a more appealing target for criminals. Lately we’ve observed an increase in malware attacks targeting different types of cryptocurrencies, and we expect this trend to continue. So, users considering cryptocurrency investments at this time need to think about ensuring they have proper protection”.

Furthermore, experts reveal yet another Trojan targeting the Monero cryptocurrency. Similarly, it means DiscordiaMiner which is design to upload and run files from a remote server.

Also Next: Russia opens 1st criminal case with Bitcoin

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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