Cheap malware is behind a rise in attacks on cryptocurrency wallets

A rise in cheap, easy-to-use malware means it’s easier than ever for cyber criminals to steal cryptocurrency. 

Cryptocurrency has long been a popular target for organised cyber criminals, whether they’re stealing it outright from cryptocurrency exchanges, or demanding it as an extortion payment in ransomware attacks

But the growing value of cryptocurrency means it has quickly become a key target for cyber criminals and they’re increasingly launching attacks which aim to steal cryptocurrency from the wallets of individual users

Research by Chainalysis warns that cryptocurrency users are increasingly under threat from malware including information stealers, clippers – which allow attackers to replace text the user has copied, redirecting cryptocurrency to their own wallets – and trojans, all of which can be purchased for what’s described as “relatively little money” on cyber criminal forums. 

For example, a form of info stealer malware called Redline is advertised on Russian cyber crime forums at $150 for a month’s subscription or $800 for ‘lifetime’ access. For a cyber criminal looking to steal cryptocurrency, it’s sadly highly likely they’ll make back the money paid for the malware within a handful of attacks. 

The illicit service also provides users with a tool which allows attackers to encrypt the malware so it’s more difficult for anti-virus

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