The continued emergence of cheap malware means it is easier than ever for cybercriminals to steal cryptocurrency.
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Cryptocurrency has long been a popular target for organized cybercriminals, whether they steal it directly from cryptocurrency exchanges or demand it as extortion payment in ransomware attacks.
However, the cryptocurrency's rising value means it has quickly become a prime target for cybercriminals, and they are launching more and more attacks aimed at stealing cryptocurrencies from individual users' wallets.
Research by Chainalysis warns that cryptocurrency users are increasingly threatened by malware, such as information stealers, clippers – which allow attackers to replace text the user has copied, redirecting cryptocurrency to their own wallets – and trojans, which can be purchased for what is described as “relatively little money” on cybercrime forums.
For example, a form of info stealer malware called Redline is advertised on Russian cyber crime forums for $150 for a monthly subscription or $800 for “lifetime” access. A cybercriminal looking to steal cryptocurrency is likely to get that money back within a few attacks.
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The illegal service provides users with a tool that allows attackers to encrypt malware so that it is more difficult to detect by antivirus, increasing the likelihood of attacks successfully stealing cryptocurrency from compromised victims.
“The cheap access to malware families like Redline means that even relatively low-skilled cybercriminals can use it to steal cryptocurrencies,” the report warns.
But Redline is just one example of malware designed to steal cryptocurrencies.
Of the incidents monitored in 2021, Crypobot, an infostealer, was the most prolific thief of cryptocurrency wallets and account credentials, stealing nearly half a million dollars in cryptocurrencies.
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Furthermore, users' success in stealing cryptocurrency could easily push more ambitious cybercriminals to target organizations, even cryptocurrency exchanges, meaning the threat of cybercriminals targeting crypto wallets and credentials is something organizations need to consider.
Information source: zdnet.com
