Spritecoin Cryptocurrency is fake and instead spreads Ransomware


All those who are interested in buying a new form of cryptocurrency named SpriteCoin here’s a fact to enlighten your minds. According to a research conducted by Fortinet researchers from Fortiguard Labs, the said crypto coin is fake and instead delivers ransomware which locks down your mobile or PC.

Research says that ‘SpriteCoin’ unlike advertised in various digital currency forums is actually a malware-spreading unit which demands 0.3 Monero currency($100) to decrypt files but adds further malware to the victim’s computer as soon as the demanded ransom is received.

Yes, what you’ve read is a fact and the study discovered that more than 7000 victims have fallen prey to the scam so far– which mainly takes the advantage of the publicity around Bitcoin and the blockchain.

As digital currency has picked up craze in western countries, people are seen investing in almost all new forms of digital coins like Ethereum, Altcoins, Monero, Litecoins in order to cash on the craze and become rich latter- like how the BTC is rewarding people now who invested in it a few years ago.

Cybercriminals are said to be capitalizing on this craze of luring victims in with the prospect of a getting rich on a quicker note with the scheme.

Cybersecurity Insiders has learned that the scam doesn’t end with those buying Spritecoin, but is also being extended to those who buy SpriteCoin storing wallets.

Mainly those using Chrome and Firefox are said to be falling prey to the scam as those spreading SpriteCoin Ransomware are found siphoning browser credentials like passwords and transmitting them to remotely based malicious actors with the help of embedded SQLite Engine tactics.

More details on Spritecoin scam will be updated shortly!

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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