With the rise of cryptojacking around the globe, people must be careful of cheap malwares that are increasing in popularit--some of which cost just $150! These malicious softwares can attack numerous crypto wallets and steal their victims' investments.
Crypto Warning 2022
For those who still do not know how cryptocurrency works, CrowdStrike stated that it is a digital currency based on blockchain technology that could be exchanged for products and services online.
Unlike money, it is encoded and decentralized, which means it cannot be changed and is also not managed by a central authority. While cryptocurrency can also be used for legitimate reasons, it is also the preferred money of hackers due to its lack of traceability.
One of the processes that hackers use is cryptojacking.
Kaspersky defined this as a form of cybercrime in which hackers utilize the gadgets of crypto investors such as computers, cellphones, tablets and even servers, to mine without their permission. Cybercriminals use this to gain profit.
Surprisingly, unlike other threats, it is designed to remain fully invisible to the victim.
In relation to this crypto warning, ZDNet reported that because of the surge in low-cost, easy-to-use malware, cybercriminals are now stealing cryptocurrency more easily than before.
Moreover, users are progressively vulnerable to malware such as information stealers, clippers, and trojans, all of which could be acquired on cybercriminal forums for cheap. To emphasize, clippers allow attackers to replace text copied by the user, redirecting cryptocurrency to their wallets.
Crypto Warning 2022: Cheap Malware Attacks Cryptocurrency Wallets
According to a recent malware research released by blockchain analysis firm Chainalysis, cryptojacking accounted for 73 percent of the total value collected by malware-related addresses between 2017 and 2021.
For instance, ZDNet also explained that on Russian cybercrime forums, a type of information stealer software known as Redline malware is advertised for $150 for a month's subscription or $800 for "lifetime" access. That is significantly less for what cybercriminals can get by stealing cryptocurrencies.
With regards to the percentage, CoinTelegraph added that Trojans follow cryptojacking at 19 percent. Meanwhile, other malware accounted for five percent, and information stealers and clippers represent one percent each.
This percentage does not include ransomware, which is the implementation of hacking and software to collect ransom money from victims in order to stop the attacks.
In terms of the targets of the said RedLine malware, it usually aims "Monero (XMR)." However, Zcash (ZEC) and Ether (ETH) are also mined occasionally.
Moreover, this illegal service also gives users access to a device that lets cybercriminals encrypt malware, making it harder for anti-virus software to identify it, boosting the chances of attacks succeeding in taking cryptocurrency from victims.
However, Redline is just one kind of malware designed to steal cryptocurrency, and the market for this type of malware is expanding.
Among the occurrences monitored in 2021 was another malware named Cryptobot, which is an info stealer that stole about half a million dollars in cryptocurrency.
