Cheap Malware Behind Surge in Attacks on Cryptocurrency Wallets

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CySecurity News – Latest Information Security and Hacking Incidents

Due to the surge in low-cost, easy-to-use malware, cyber thieves may now steal cryptocurrency more easily than before. 

Whether stealing it be straight from cryptocurrency exchanges or demanding it as an extortion payment in ransomware attacks, Bitcoin has consistently been a favoured target for sophisticated cybercriminals. 

However, because of its rising value, cryptocurrency has swiftly become a target for cyber thieves, who are increasingly undertaking attacks aimed at stealing cryptocurrency from individual users’ wallets. According to Chainalysis, cryptocurrency users are more vulnerable to malware such as information stealers, clippers (which allow attackers to alter text copied by the user, routing cryptocurrency to their own wallets), and trojans, all of which can be purchased for “quite cheap.” 

On Russian cybercrime forums, for example, a type of info-stealer virus known as Redline is marketed for $150 for a month’s subscription or $800 for a ‘lifetime’ membership. Unfortunately, for a cybercriminal aiming to steal cryptocurrencies, it’s quite likely that they’ll recoup their investment in software within a few attacks. 

The illegal service also gives users access to a tool that enables attackers to encrypt malware, making it harder for anti-virus software to identify it, boosting the chances of attacks successfully taking cryptocurrency from victims.