Crypto wallet hacks have been seemingly more common recently, with trading platforms losing hundreds of millions of dollars' worth of cryptocurrency assets to hackers. And according to a recent report, this is due to the increase in popularity of cheap, easy-to-use malware.
ZDNet reports that the said malware is readily available to anyone, and it can do a wide variety of things. Some of the malware serves as information stealers, trojans, and clippers-software that allows cybercriminals to replace any text that users copy before they paste it. In turn, they can redirect any crypto payments to their own wallets without the real owner suspecting anything.
In their most recent crypto crime report, cryptocurrency research firm Chainalysis raised the alarm on the aforementioned malware. They mention some malware "families" are used by hackers for both mining and stealing crypto from anyone, anywhere, at any time.
They name-dropped four of these, alongside their intended purpose:
- Redline: An info stealer malware, which collects saved files, credentials, and even users' autocomplete history from compromised devices.
- Hackboss: As a clipper, this can insert malicious text into a victim's clipboard from when they're copy-pasting important information.
- Glupteba: A so-called "cryptojacker" malware that works its way into an unsuspecting users' device to mine cryptocurrency in secret. This is very similar to the ones packed into some pirated game copies that made the headlines last year.
- Mekotio banking trojan: It works much like an old-school Trojan virus that sneaks into your device to perform illicit tasks.
Chainalysis also provided some prices for the malware, with Redline being available for access at $150 a month, or $800 for "lifetime" access, as per the original ZDNet report.
According to the Chainalysis report, access to this cheap malware is opening up the field for even low-skilled hackers looking to steal cryptocurrency.
Crypto Wallet Hacks Have Been Quite Common
Looks like Chainalysis' warning should have been heeded much earlier since cyber criminals have been targeting numerous crypto trading platforms in seemingly increasing frequencies.
The most recent of these was the Crypto.com hack, which reportedly saw the attackers escape with roughly $15 million worth of Ethereum and other digital currency assets. Over 400 accounts were compromised as confirmed by company CEO Kris Marszalek, who also said that the owners of the affected accounts have been "reimbursed."
Another one involved the platform BitMart, which lost $196 million in an attack last December. Considered as one of the most devastating crypto heists in recent memory, the hack is still largely unsolved to this day.
The perpetrators of the attack are still at large, and it is even reported that affected account holders haven't been paid back, reports CNBC. Some users are even saying that if BitMart doesn't pay back the funds they lost, they'll be "facing financial ruin."
If you're a cryptocurrency investor in this day and age, you better be sure that your assets are secure.
Related: CryptoWatch: 2022 Top Coins Not Affected by Hacks? Cryptocurrency Crimes Reach $14b Record
This article is owned by Tech Times
Written by RJ Pierce
