Just like any new platform that holds promise some great use for the good of mankind, there will also be other people who will take advantage of the same platform to launch their evil design. And this is much true with cryptocurrency. This is just one of the many bad sides of human nature.
Since people have the desire to earn money, there are many programs offering a free way to mine some coins but actually they are just malware and botnets which the programmer may one day choose to activate and do some damage without the owner's full knowledge.
This is the major reason why we have to be careful with any program we are downloading and make sure that they are not programs that pretended to be good when in fact they can be damaging and spreading infections all throughout.
Topic: [2017-09-13] Crypto Mining Malware on Pace to Infect 2 Million Computers in 2017 (Read 1853 times)
September 13, 2017, 05:32:19 AM
September 13, 2017, 05:23:35 AM
Cryptocurrency mining malware is on pace to infect more than 2 million computers in 2017, according to a new analysis of telemetry data from Kaspersky Labs.
The report, which was published by technical support site Bleeping Computer, says that more than 1.65 million computers became infected with cryptocurrency mining malware during the first nine months of the year.
According to data from Kaspersky Labs, the number of infected computers has increased significantly every year. In 2013–when bitcoin first gained sustained mainstream media attention–only 205,000 computers were infected. The number continued to climb in subsequent years, even as the crypto market cap waned. Last year, these cyber attacks reached an all-time high of 1.8 million as the markets began a sustained advance. If the current pace continues, more than 2.3 million computers will have been infected by the end of the year.
Cyberattackers rely on vast networks of computers–known as botnets–that they are able to control without the owners’ knowledge. They often run the mining software in the background, leaving computer owners with little indication that their computers have been infected, other than a decrease in performance.
One high-profile malware attack infected Linux-based servers that were placed online without password protection, while another attack–concentrated in Poland–mined bitcoin using the processors in victims’ computers. Earlier this year, researchers discovered a mining botnet that included hundreds of thousands of Windows computers.
The report states that Monero and Zcash are attackers’ cryptocurrencies of choice. This should not be surprising, since both coins offer users anonymous transactions, and privacy is key if one wishes to discretely sell his ill-gotten coins on an exchange.
Of course, the rise in cryptocurrency cybercrime is not limited to mining malware. A recent report from blockchain-tracing firm Chainalysis revealed that from June to August of this year, cybercriminals netted more than $125 million in Ethereum-related attacks alone. The majority of these attacks are deployed through phishing scams, although exploits comprise a significant minority.
https://www.cryptocoinsnews.com/cryptocurrency-mining-malware-pace-infect-2-million-computers-2017/
The report, which was published by technical support site Bleeping Computer, says that more than 1.65 million computers became infected with cryptocurrency mining malware during the first nine months of the year.
According to data from Kaspersky Labs, the number of infected computers has increased significantly every year. In 2013–when bitcoin first gained sustained mainstream media attention–only 205,000 computers were infected. The number continued to climb in subsequent years, even as the crypto market cap waned. Last year, these cyber attacks reached an all-time high of 1.8 million as the markets began a sustained advance. If the current pace continues, more than 2.3 million computers will have been infected by the end of the year.
Cyberattackers rely on vast networks of computers–known as botnets–that they are able to control without the owners’ knowledge. They often run the mining software in the background, leaving computer owners with little indication that their computers have been infected, other than a decrease in performance.
One high-profile malware attack infected Linux-based servers that were placed online without password protection, while another attack–concentrated in Poland–mined bitcoin using the processors in victims’ computers. Earlier this year, researchers discovered a mining botnet that included hundreds of thousands of Windows computers.
The report states that Monero and Zcash are attackers’ cryptocurrencies of choice. This should not be surprising, since both coins offer users anonymous transactions, and privacy is key if one wishes to discretely sell his ill-gotten coins on an exchange.
Of course, the rise in cryptocurrency cybercrime is not limited to mining malware. A recent report from blockchain-tracing firm Chainalysis revealed that from June to August of this year, cybercriminals netted more than $125 million in Ethereum-related attacks alone. The majority of these attacks are deployed through phishing scams, although exploits comprise a significant minority.
https://www.cryptocoinsnews.com/cryptocurrency-mining-malware-pace-infect-2-million-computers-2017/
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