BlackBerrys Cybersecurity Division Identifies Notorious Malware Targeting Cryptocurrencies jpg

BlackBerry’s Cybersecurity Division Identifies Notorious Malware Targeting Cryptocurrencies

Altcoin news, News

In its latest cybersecurity report, BlackBerry’s cybersecurity division has exposed the lurking danger of malware families that pose a significant threat to cryptocurrencies. These nefarious digital intruders, such as SmokeLoader, RaccoonStealer, and Vidar, have been designed with a malicious intent to hijack computers and mine or steal valuable cryptocurrencies.


Rise of the Cybercriminals

The prevalent notion that only large enterprises are targeted by cybercriminals has been shattered. The report by BlackBerry’s @aboutsecurity reveals that mid-market and small businesses have become alluring targets for cyber attackers. The selection of targets is now based on the potential impact of the attack and how much the attackers can extort from their victims.

Between March and May, BlackBerry successfully thwarted over 1.5 million cyberattacks, with the finance, healthcare, and government sectors facing the brunt of these digital onslaughts. Among the notable cyber threats, RedLine stood out, as it managed to breach the formidable fintech banking platform, Hatch Bank, resulting in a heist of both cryptocurrencies and sensitive banking data.

Malware on the Prowl

SmokeLoader, an older financial rogue tool, has fallen into the hands of Russian threat actors who are exploiting it for crypto mining operations. On the other hand, RaccoonStealer has emerged on the dark web as a potent weapon specifically designed to pilfer cryptocurrency wallet data. Meanwhile, Vidar has been widespread in its use, particularly when it comes to harvesting cryptocurrency wallets.

The hackers have found Linux systems to be the most vulnerable target for executing mining attacks successfully. To mitigate these threats, BlackBerry strongly advises organizations to promptly apply security patches to safeguard against potential infiltrations.

The Clop Ransomware Menace

One of the standout culprits identified in BlackBerry’s report is the notorious Clop ransomware, which is a variant of the infamous CryptoMix ransomware. Clop has been on a rampage, particularly targeting banking and financial institutions. Hatch Bank, the unfortunate victim of this ruthless ransomware, faced a massive data breach, leading to dire consequences for the fintech banking platform.

Urgent Need for Enhanced Cybersecurity

The findings of BlackBerry’s cybersecurity report underscore the escalating cyber threats faced by the financial and other critical sectors. The rapidly evolving tactics of cybercriminals demand that organizations bolster their cybersecurity measures and remain relentlessly vigilant against these increasingly sophisticated attacks.