Everyone has heard of ransomware, and many people have heard of 'cryptojackers', banking trojans, and 'info stealers.' Now, Microsoft is introducing 'cryware' into the cybersecurity lexicon, predicting that more people will start using so-called 'hot wallets' as they bolster their cryptocurrency holdings – and that crooks will try to steal them.
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Microsoft says it coined the term to describe an emerging category of malware created by the growing (but volatile) market capitalization of digital assets, also known as cryptocurrency, which peaked at nearly $3 trillion in 2021.
Cryware is a type of info-stealer malware that targets online passwords stored in a browser, but also seeks to collect private keys from internet-connected cryptocurrency 'hot wallets' stored on a device (versus cold wallets that keep crypto offline).
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It's true that in recent years, malware that can traditionally steal browser passwords and other information has been modified to steal information from cryptocurrency wallets, as Azorult did in 2019. Azorult, ClipBanker, Mars Stealer, Redline , and Raccoon are among Microsoft's growing list of cryware threats.
However, Microsoft says the cryware reflects a change in the way attackers use cryptocurrencies in attacks. The cryware targets a crypto wallet to transfer cryptocurrencies to its own wallets.
Ransomware was also found that uses cryware to steal cryptocurrency funds from a targeted device.
Microsoft expects more companies to have hot wallets installed on corporate networks in the future as they move some of their assets into cryptocurrencies.
Cryware can steal wallet information, such as private keys or the home page phrase, from the user's clipboard by looking for patterns that resemble a hot wallet address. The malware could use memory dumps to obtain private keys in plain text from a browser. Then there are key logging, phishing , and fake hot wallet applications.
Another way is for malware to steal the storage files of a wallet application.
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Whether you agree with Microsoft's use of the term cryware, the company's researchers published some useful tips for protecting hot wallets:
- Lock hot wallets when you are not actively trading.
- Disconnect sites that are connected to the wallet.
- Avoid storing private keys in plain text.
- Be careful when copying and pasting information.
- Make sure browser sessions are terminated after each transaction.
- Use wallets that implement multi-factor authentication.
- Be careful with links on wallet websites and apps
- Double-check transactions and wallet approvals.
- Never share private keys or passphrases.
- Use a hardware wallet unless it needs to be actively connected to a device. Hardware wallets store private keys offline.
- Reveal file extensions of downloaded and saved files. In Windows, enable File Name Extensions in View in file explorer to see the actual file extensions on a device.
Information source: zdnet.com
