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Author Topic: [2017-12-01] Cyber-thieves seek to cash in on Bitcoin boom  (Read 2225 times)
jekjekman
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December 01, 2017, 10:37:09 AM
 #1

Bitcoin's booming value has driven a huge rise in crypto-currency themed malware, say security firms.
In one month, anti-malware software company Malwarebytes said it stopped almost 250 million attempts to place coin-mining malware on to PCs.
Symantec said it had seen a "tenfold" increase in the amount of malicious code connected with crypto-cash.
Cyber-thieves are using both dedicated software, hacked websites and emails to snare victims.
Cashing in
"There's been a huge spike," said Candid Wuest, a threat researcher at online security firm Symantec, adding that it had been caused by the rapid increase in Bitcoin's value.
On 29 November, the value of one Bitcoin surpassed $10,000 (£7,943) - a massive increase on the $1,000 each one was worth at the start of 2017, although that figure has now fallen back sharply.
"With $10,000 being breached, and all the hype, a lot of people are trying to make money with crypto-coins," said Mr Wuest.
Most of the activity seen by Symantec and other security firms involves crypto-coins other than Bitcoin. This was because it took a huge amount of computer power to produce or "mine" bitcoins.
By contrast, he said, mining other crypto-coins such as Monero could be done on desktops, laptops and even smartphones.
Many of these alternative coins had risen in value alongside Bitcoin, said Mr Wuest.


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Bitcoin mining using other people's resources. The brightest idea that a person who wants to have a bitcoin can do. Imagine how much hashes they can get if they successfully installed those malwares on other peoples computers.
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BitHodler
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December 01, 2017, 11:29:07 AM
 #2

Crypto hodlers have always been a major target for those looking to rob them off their coins. In this case it doesn't surprise me that there is a massive increase in malware and websites that got messed with to infect people.

It's obvious to anyone that more and more average people are buying into Bitcoin, which means that it's very likely that they have no clue about how to properly secure everything, and for that reason are easy targets.

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December 01, 2017, 11:41:40 AM
Last edit: December 01, 2017, 12:02:30 PM by hatshepsut93
 #3

Mining malware described in the article, together with recently spiked in popularity browser mining scripts can be pretty annoying, but ultimately easy to detect and deal with. What is more scary is the malware that targets Bitcoin and altcoin wallets and exchange accounts - they can hurt cryptocurrency adoption by average users, because average users have very poor security practices and it's very common to find their computers infected by at least a few samples of malware. But users are not the only ones who should worry - cryptocurrency services will also face more hacking attacks as the price goes up, and we all know how many exchanges were hacked during these years.

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December 01, 2017, 11:50:40 AM
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It seems to me that such viruses as you have the main goal to infect computers which store bitcoins offline. If you lose access to several bitcoin then you have no chance to return them without having to pay the extortionists. That is why I am advocating to keep your bitcoin in an online wallet. It is certainly possible to create a disk image, but there is no guarantee that your image will not be infected.
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December 01, 2017, 12:44:29 PM
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It seems to me that such viruses as you have the main goal to infect computers which store bitcoins offline.
You have a weird definition of offline storage. Offline storage means that you have your coins either in an hardware wallet, or a paper wallet, that at all times isn't accessible from the internet. In other words, if you get hacked, or get infected with a million viruses, they still won't be able to steal your coins, because there is no way to access them.

If you lose access to several bitcoin then you have no chance to return them without having to pay the extortionists.
That's why as I mentioned, one should store his coins offline. If you use a desktop client where your wallet file is always in the main wallet folder, then you are exposed to great risks.

That is why I am advocating to keep your bitcoin in an online wallet. It is certainly possible to create a disk image, but there is no guarantee that your image will not be infected.
What's up with you? Just because you don't know how to properly store your coins offline, doesn't mean that you should recommend people to use online wallets. Roll Eyes

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December 01, 2017, 01:24:25 PM
 #6

Am pretty sure the rise of Cyber-thieves also means better sales for these anti-malware software companies which hasnt been highlighted here Roll Eyes, just hoping this does not negatively affect adoption of digital currencies as first time users will likely shy away from using crypto for fear of being cyber hijacked or hacked. As users of crptos it is our own responsibility to ensure security measures are followed/put in place.


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Lucius
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December 01, 2017, 01:54:59 PM
 #7

This article is about coin-mining malware,and if you have it on your PC then only thing this malware doing is to using your CPU to mine some coin,probably Monero.There is also mining script which is activated in your browser when you visit some site,and this is from CoinHive-in moment you leave such site mining is stoped.

Most of security software stop such attempts these days,so if you want to protect your PC from hidden mining invest some money in good security,antivirus+firewall and Malwarebytes Premium are something that you must have.Just check on Marketplace in DigitalGoods section and you can get licence for almost any security software very cheap.

Considering the price of BTC this problem will probably only become even greater,but only thanks to countless computers who have no adequate protection.


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December 01, 2017, 03:03:15 PM
 #8

Crypto hodlers have always been a major target for those looking to rob them off their coins. In this case it doesn't surprise me that there is a massive increase in malware and websites that got messed with to infect people.

It's obvious to anyone that more and more average people are buying into Bitcoin, which means that it's very likely that they have no clue about how to properly secure everything, and for that reason are easy targets.

It is bound to happened, specially it spike around the middle of the year with the Wanna Cry Virus. And just like what I said in the other thread, its gonna be a constant battle and we need to be at least one step ahead from those hackers. They are really targeting the whole crypto market now with the huge amount of money involved. Maybe those hackers are also working 24/7  to seek unsuspecting victims and recently there are a surge of searches targeting wallets. And those average people who are getting into bitcoin just now will likely have a good wake up call once they lost their coins. Hard lessons but the best thing is that we should learn to from our mistakes. Exchanges, online wallets account should be well taken care of.

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December 01, 2017, 03:03:46 PM
 #9

I suppose all these articles about the growing cyber-thieves threat are worth to be read. This hacking and protecting process will be continuous and ongoing, like shall and armor competition. Windows user of course more are more vulnerable than Linux ones, but with the right attitude bitcoiner can reduce risk significantly: windows firewall enabled (block in-out traffic in untrustable apps), minimum number of extension in browser (especially not signed ones), bookmarked links, etc.
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December 01, 2017, 03:18:49 PM
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The best solution is to clean boot with something like Tails to "reset" your OS every time you use it. There might be some

malware that remains hidden in the firmware or BIOS, but you will be protected from most. If you have to use one of the

more popular OS's, then make sure you use updated Anti-virus and Malware software. These programs check for heuristic

characteristics of these kinds of software and block them. {even before they are identified}  Wink

Signature space available for your Ads :-.>
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December 01, 2017, 06:31:59 PM
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That's because people who are interested in cryptocurrencies are usually newbies when it comes to cyber security. It's not something you learn in school and people think they are safe until the moment someone takes control of their computer and they lose everything.
There are some basic steps that we all can follow to be relatively safe from any attacks. If people just stopped using the machines that host their wallets for casual surfing, downloading freeware programs and torrents and visiting porn sites. When you have a wallet full of cash you just don't drink alone in some stinky bar full of thugs. What looks so simple and obvious in the real life is ignored and laughed at by newbies in the cyberspace.
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December 01, 2017, 08:05:11 PM
 #12

Recently, I increasingly hear from my friends about the problems associated with malicious programs or with the attempt of cyber-thieves to penetrate into purses for the purpose of stealing coins. Sometimes even such attempts are successful. Therefore now the first place is the problem of digital currency security. Cyber ​​attacks in connection with the increase in the cost of crypto currency will only increase.
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December 02, 2017, 12:02:33 AM
 #13

I have recently had one encounter with a local site that was mining in the background while browsing. I have certain tools running that show me how everything related to my system is doing, which is the main reason I noticed this. I had no proof that they were actually mining, but the suspicion was enough to contact them, and they responded to me that I gave them permission to do so because I have an ad-blocker running, which isn't the case at all. Later (probably due to many complaints) they stated that a hacker gained access to their site and implemented a mining script. Lying greedy bastards.
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