New Malicious Programs Target Crypto Investors, Warns Malwarebytes

Cybersecurity company Malwarebytes has identified two new malicious computer programs aimed at crypto investors. The MortalKombat ransomware and Laplas Clipper malware are dangerous cyber threats that emerged in December 2022. They have been targeting unsuspecting internet users, especially crypto-currency investors, and siphoning off their digital assets. The attacks target crypto individuals and small and large organizations in the United States, the United Kingdom, Turkey, and the Philippines.

Malwarebytes’ findings are backed by research from the threat intelligence team Cisco Talos, which explains how the malware works. The two programs sweep information stored in the user’s clipboard, detecting wallet addresses and replacing them with a different addresses. This results in unsuspecting investors sending their crypto-currency to the attacker’s wallet.

Malwarebytes warns that the attack relies on the user’s inattentiveness to the sender’s wallet address. Once infected, the MortalKombat ransomware encrypts the user’s files and drops a ransom note with payment instructions. The attack starts with a crypto-currency-themed email containing a malicious attachment, which runs a BAT file that helps download and execute the ransomware when opened.

Malwarebytes advises investors to perform extensive due diligence before investing and ensure the official source of communications to prevent these attacks from impacting their financial well-being.

Along Crypto: Ransomware Revenues Plummeted 40% in 2022

Ransomware victims’ refusal to pay extortion demands caused a 40% decrease in attacker revenues to $456.8 million in 2022. Despite this, blockchain analysis company Chainalysis cautioned that attack frequency may not have decreased.

Related Reading | Kraken Under SEC Scrutiny For Securities Violations

Chainalysis also reported that the total value extorted by ransomware attackers between 2017 and 2022 is $11.5 billion. This figure highlights the need for individuals and organizations to remain vigilant against ransomware attacks.

In conclusion, the rise in crypto-currency-related attacks highlights the need for investors to remain vigilant. Cybersecurity measures such as anti-malware software can help protect users against these attacks. As ransomware attacks continue to threaten individuals and organizations, refusing to pay the ransom is crucial to prevent further attacks and reduce attacker revenues.

This article conveys general information and the opinions expressed should not be considered personal advice for any individual or specific security or investment product.

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