Cryptocurrency-Stealing Malware is now a Multi-Million Economy

The Dark Internet is associated with the unlawful trade in malicious and malware hacking tools; now a market has turned towards lucrative cryptocurrency theft.

Cryptocurrency is including Bitcoin (BTC), Monero (XMR), and Ethereum (ETH) which has been grown popular of late.

The market is no longer means to trade virtual assets in a decentralized way, somewhat unspecified fashion. Instead of this, startups have emerged which solely focus on cryptocurrency and the blockchain, some of the well-known brands are launching Initial Coin Offerings (ICOs), and now the cryptocurrency market has become a tentative way for the investors to make serious money.

However, with the rising of popularity, so does the interest from criminals and which has created one new industry in the world of software and hacking tools.

According to the research report of Carbon Black’s latest, “Cryptocurrency Gold Rush on the Dark Web,” the market for tools and malware designed particularly for the theft of cryptocurrency which is continuously growing apace.

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Over the past six months, a total $1.1 billion has been stolen in cryptocurrency-related thefts, and around 12,000 marketplaces in the underbelly of the Internet are fueling this trend, according to the researcher estimation.

In total, there are approximately 34,000 services, and products are on sale which is directly related to the cryptocurrency theft, ranging from just over a dollar in price to $224, with an average cost of about $10.

The researchers said that “the available dark web marketplaces signify a $6.7 million illicit economy which is built from cryptocurrency-related malware development and sales.”

The Carbon Black states that cryptocurrency exchanges are one of the most susceptible targets for cybercriminals, with almost close to a third 27 percent of attacks which is directed at these trading posts. And in total, 21 percent of attacks targeted close to businesses directly, while 7 percent of the attacks are aimed at governments.

Altogether 4,000 domains were affected, and genuine third-party plugins are installed to help visitors with some visual impairments was at fault after being compromised at the source.

The bulk of cryptocurrency-theft assistance is totally based on Bitcoin, probably due to the virtual currency’s popularity and the promise of prospectively high returns.

Now, 44 percent of the attacks related to Monero, because of crypto jacking slightly than outright wallet compromise. Traders don’t want to pay in Bitcoin currency themselves due to high transaction fees which are associated with the cryptocurrency and the extent of time it can seize to process a payment.

Instead, Monero is the cryptocurrency of the option unpaid to comparably low fees, privacy, and non-traceability.

Carbon Black stated that “Our analysis of the marketplace suggests cryptocurrency-related malware listings that are designed to cater to unqualified cyber actors, or for those who are looking to make a quick buck from highly susceptible victims, the listings are riddled with phrases that emphasized the absolute simplicity for using these tools.

Cryptocurrency-stealing malware, including crypto jackers GhostMiner and Loapi, which appear to be the tools of choice for cybercriminals who are desperately seeking to cash in on the enthusiasm for virtual coins. So, to protect yourself from this cryptocurrency malware, we suggest you install the antivirus security software on your system. Norton antivirus is a very known brand name serving antivirus from many years around the world. Norton monitors all malware and online threats and alerts you when tracking any unusual activity on the system.

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