{"id":539,"date":"2018-05-02T18:10:06","date_gmt":"2018-05-02T18:10:06","guid":{"rendered":"https:\/\/blog.trendmicro.com\/?p=541232"},"modified":"2018-05-02T18:10:06","modified_gmt":"2018-05-02T18:10:06","slug":"how-cryptocurrency-is-shaping-todays-threat-environment","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/how-cryptocurrency-is-shaping-todays-threat-environment\/","title":{"rendered":"How cryptocurrency is shaping today\u2019s threat environment"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" width=\"235\" height=\"300\" src=\"https:\/\/blog.trendmicro.com\/wp-content\/uploads\/2018\/05\/In-addition-to-legitimate-uses-and-mining-cybercriminals-have-also-taken-advantage-of-cryptocurrency-and-this-use-is-shaping-the-current-threat-enviro_459_40174336_0_14087602_500-235x300.jpg\" class=\"attachment-medium size-medium wp-post-image\" alt=\"In addition to legitimate uses and mining, cybercriminals have also taken advantage of cryptocurrency, and this use is shaping the current threat environment.\" srcset=\"https:\/\/blog.trendmicro.com\/wp-content\/uploads\/2018\/05\/In-addition-to-legitimate-uses-and-mining-cybercriminals-have-also-taken-advantage-of-cryptocurrency-and-this-use-is-shaping-the-current-threat-enviro_459_40174336_0_14087602_500-235x300.jpg 235w, https:\/\/blog.trendmicro.com\/wp-content\/uploads\/2018\/05\/In-addition-to-legitimate-uses-and-mining-cybercriminals-have-also-taken-advantage-of-cryptocurrency-and-this-use-is-shaping-the-current-threat-enviro_459_40174336_0_14087602_500-380x485.jpg 380w, https:\/\/blog.trendmicro.com\/wp-content\/uploads\/2018\/05\/In-addition-to-legitimate-uses-and-mining-cybercriminals-have-also-taken-advantage-of-cryptocurrency-and-this-use-is-shaping-the-current-threat-enviro_459_40174336_0_14087602_500.jpg 392w\" sizes=\"auto, (max-width: 235px) 100vw, 235px\"\/><\/p>\n<p>Cryptocurrency has exploded as a popular way to support digital transactions. Since its creation, users have discovered an array of different ways to leverage cryptocurrency, including within mining strategies and digital wallets.<\/p>\n<p>Expanded use cases and interest helped propel the value of digital currency like Bitcoin. At the time of this writing, the <a href=\"https:\/\/blockchain.info\/stats\" target=\"_blank\" rel=\"noopener\">market price for Bitcoin stood at over $9,450<\/a>, with a market trade volume of more than $8.5 million, though the value of Bitcoin has fluctuated wildly over the past few months.<\/p>\n<p>At the same time, however, a digital currency that was untraceable and unlinked to any specific banking organization also considerably appealed to hackers. In addition to legitimate uses and mining, cybercriminals have also taken advantage of cryptocurrency, and this use is shaping the current threat environment.<\/p>\n<h3><strong>The appeal of cryptocurrency<\/strong><\/h3>\n<p>While many consider 2017 to be the year that cryptocurrency crossed over into the mainstream, individuals have actually been using Bitcoin and other types of cryptocurrency for several years now, representing a main driving force behind the blockchain concept.<\/p>\n<p>At its most basic, cryptocurrency can be thought of as digital or electronic money. However, a main differentiating factor between cryptocurrency and other digital transactions is the fact that currencies like Bitcoin don\u2019t require the verification or backing of a central bank or financial service provider.<\/p>\n<p>\u201cInstead, it uses <a href=\"https:\/\/www.fool.com\/investing\/2018\/03\/11\/what-is-cryptocurrency.aspx\">cryptography to confirm transactions<\/a> on a publicly distributed ledger called the blockchain, enabling direct peer-to-peer payments,\u201d The Motley Fool contributor Adam Levy wrote.<\/p>\n<p>Cryptocurrency offers numerous benefits for white hat users, including streamlined digital transactions and increased privacy. These same type of advantages, however, also appealed to hackers who saw Bitcoin and other cryptocurrencies as the ideal element to support malicious infections like ransomware. The fact that the currency supports certain privacy benefits also makes it ideal for\u00a0enabling payments that cannot be tracked back to the malicious actor behind an infection \u2013 and that\u2019s just how cybercriminals have leveraged it.<\/p>\n<p>As Dr. Kevin Curran, Ulster University professor of cybersecurity, told The Guardian contributor Simon Usborne, the level of anonymity cryptocurrency enables was a capability that hackers struggled with previously.<\/p>\n<p>\u201cThe odd hacker here or there could deliver a message to send money via Western Union or to a bank account, but <a href=\"https:\/\/www.theguardian.com\/technology\/2017\/may\/15\/digital-gold-why-hackers-love-bitcoin-ransomware\" target=\"_blank\" rel=\"noopener\">that transfer was always traceable<\/a> once the authorities were involved,\u201d Curran said.<\/p>\n<p>This all considerably changed with the emergence of cryptocurrency, which, as Usborne pointed out, provides specific advantages that attracted hackers\u2019 attention.<\/p>\n<p>\u201cIt offers two major advantages for cybercriminals: by operating as a decentralized currency, in which people pay each other without a middleman (like a bank or credit card company), it provides a lot of anonymity,\u201d Usborne wrote.<\/p>\n<h3><strong>Supporting ransomware: Wallet hacking<\/strong><\/h3>\n<p>One of the best examples of cryptocurrency shaping today\u2019s threat environment comes in connection with the veritable tidal wave of ransomware attacks that have taken place in recent years. These attacks include strong encryption to block legitimate user access as well as a ransom demanding payment in the form of untraceable cryptocurrency for the decryption key. In this way, Bitcoin and cryptocurrency led to the significant rise and continued success of malicious ransomware infections.<\/p>\n<p>As Trend Micro reported, hackers have even begun upcycling older ransomware threats to include new cryptocurrency-centered malicious capabilities. One instance encompasses the Cerber ransomware family, which has seen developments in the past. Most recently, hackers had <a href=\"https:\/\/blog.trendmicro.com\/trendlabs-security-intelligence\/cerber-ransomware-evolves-now-steals-bitcoin-wallets\/?_ga=2.226603485.1337833153.1524603217-412943378.1522103461\" target=\"_blank\" rel=\"noopener\">leveraged Cerber for cryptocurrency theft<\/a>.<\/p>\n<p>A current Cerber infection still includes many familiar elements: infection typically begins with a malicious emailed file attachment which delivers the Cerber variant. This newest version enables the ransomware to target Bitcoin wallets, in addition to encrypting and blocking access to files.<\/p>\n<p>\u201cHow it goes about this is relatively simple: it targets the wallet files of three Bitcoin wallet applications (the first-party Bitcoin Core wallet, and the third-party wallets Electrum and Multibit),\u201d Trend Micro researchers Gilbert Sison and Janus Agcaoili wrote. \u201cIt also deletes the wallet files once they have been sent to the servers, adding to the injury of victims.\u201d<\/p>\n<p>Successful theft would still require hackers to steal, guess or otherwise breach the password protection on the victim\u2019s wallet. However, because Cerber is able to steal saved passwords from Internet Explorer, Chrome and Firefox, this isn\u2019t a difficult jump for hackers to make.<\/p>\n<div class=\"inlineImageWrapper\" readability=\"7\"><img decoding=\"async\" id=\"14135054\" class=\"inlineImage\" src=\"https:\/\/pictures.brafton.com\/x_0_0_0_14135054_800.jpg\" alt=\"Person holding a mobile phone with a dollar sign on the screen. \" width=\"100%\" height=\"auto\"\/>Cryptocurrency is attractive to cybercriminals and has shaped the current threat landscape.<\/div>\n<p>This ransomware-driven cryptocurrency wallet hacking comes on top of other attempts to break into victims\u2019 cryptocurrency repositories. This has become a popular pursuit, with wallets being treated as low-hanging fruit for hackers who know the currency can\u2019t be traced.<\/p>\n<p>As Fortune reported, though, particularly flagrant attackers that steal the contents of digital wallets are now being uncovered. One Ukrainian hacker called Coinharder has been identified, and has <a href=\"http:\/\/fortune.com\/2018\/02\/14\/bitcoin-cryptocurrency-blockchain-wallet-hack\/\" target=\"_blank\" rel=\"noopener\">stolen over $50 million in cryptocurrency<\/a> using a tactic involving malicious Google advertisements targeting individuals who search for keywords like \u201cblockchain\u201d or \u201cbitcoin wallet.\u201d The ads, purchased by hackers, display links to websites posing as legitimate marketplaces for cryptocurrency wallets, but actually steal digital currency.<\/p>\n<p>\u201cFooled into believing they had come to the right place, victims then entered private information that allowed hackers to gain access to their actual wallets and take their digital money,\u201d explained Fortune contributor Jen Wieczner.<\/p>\n<p>As cryptocurrency continues to explode in popularity among consumers and other users, chances are very good that attempts to steal from cryptocurrency wallets will continue in the near future.<\/p>\n<h3><strong>Cryptocurrency mining: Coming to mobile<\/strong><\/h3>\n<p>Supporting ransomware and digital wallet theft aren\u2019t the only ways in which cryptocurrency has shifted the current threat landscape. Hackers are also working to take advantage of the recent cryptocurrency mining push, which essentially rewards users with cryptocurrency for adding blocks of amassed transactions to the blockchain publicly distributed ledger.<\/p>\n<p>As Trend Micro reported in its 2017 Annual Security Roundup report, hackers have even attempted to bring cryptocurrency mining capabilities to the mobile malware environment. Trend Micro even discovered <a href=\"https:\/\/blog.trendmicro.com\/trendlabs-security-intelligence\/coin-miner-mobile-malware-returns-hits-google-play\/?_ga=2.260676045.1337833153.1524603217-412943378.1522103461\">several malicious cryptocurrency mining apps<\/a> in the Google Play store in the fall of 2017. These leverage the victim device\u2019s CPU for mining activity which benefits the hacker.<\/p>\n<p>\u201cThe efficacy of mobile devices to actually produce cryptocurrency in any meaningful amount is still doubtful,\u201d Trend Micro\u2019s Jason Gu, Veo Zhang and Steven Shen stressed. \u201cHowever, the effects on users of affected devices are clear: increased device wear and tear, reduced battery life, comparably slower performance.\u201d<\/p>\n<p>To find out more about the ways in which cryptocurrency has impacted today\u2019s risk landscape, download Trend Micro\u2019s full 2017 Annual Security Roundup: <a href=\"https:\/\/www.trendmicro.com\/vinfo\/us\/security\/research-and-analysis\/threat-reports\/roundup\/\">The Paradox of Cyberthreats<\/a>.<\/p>\n<p> Read More <a href=\"https:\/\/blog.trendmicro.com\/how-cryptocurrency-is-shaping-todays-threat-environment\/\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In addition to legitimate uses and mining, cybercriminals have also taken advantage of cryptocurrency, and this use is shaping the current threat environment.<br \/>\nThe post How cryptocurrency is shaping today&#8217;s threat environment appeared first on . Read More HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":540,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[61],"tags":[400,21,399,307],"class_list":["post-539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trendmicro","tag-cerber-variant","tag-cryptocurrency","tag-industry-news","tag-security"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How cryptocurrency is shaping today\u2019s threat environment 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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