Cryptocurrency stealing malware will proliferate in 2018!

    Cybersecurity Company Fortinet is predicting that hackers and software developers of the dark world will try to cash in this year with a malware that steals cryptocurrency like Bitcoins, Ethereum, Monero, and Zcash. The firm also predicts a rise in crime related to ransomware spread and for those who make their living on Cryptojacking.

    Derek Manky, a global security strategist at Fortinet said that although the magnitude related to cyber threat has grown by 35 times over 2017, an increase in 20% to 30% can be expected in this year. He predicts that the next big target for ransomware spreading hackers will be cloud service providers and other commercial services as these targets can prove as flourishing revenue streams.

    Manky also predicts that cyber crooks will be replacing botnets with large number of infected inter-connected devices called “Hivenets”. These hive nets are intelligently clustered compromised devices that can launch highly effective cyber attacks based on local intelligence that is being shared. These devices will be smart enough to act on commands without the botnet herder instructing them to do so.

    Meanwhile, security firm Proofpoint predicts that the digital world will witness a rise of cryptocurrency-stealing malware in this year. The company says that a lot of hacker groups-mostly funded by state-funded actors will be seen making merry in this year.

    As the craze for digital currency such as Bitcoins increases in 2018, taking the worth of each BTC reach $60,000 USD in this year, it will attract the attention of hackers in a proportionate way. The spread of malware will take place in the form of phishing emails which then target cryptocurrency wallets, credentials; eventually leading to the activity of stealing the digital coins.

    So, all you guys out there who are either enthusiast of Bitcoins, Monero, Zcash, just be careful while trading with the digital cash against the fiat currency and hope you keep your crypto safe and isolated from cyber attacks.

    Naveen Goud
    Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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