How to hack into a cryptocurrency: Checkpoint highlights four strategies used by hackers

In its 2020 security report, computer security company Checkpoint reported that 38% of businesses were at least once hacked by cryptocurrency extractors in 2019.

Cryptocurrency has become increasingly popular with users of digital services. Payment models are beginning to adapt as they go along to these electronic currencies. This explains the interest that hackers place on this technology.

In this regard, Michael Techer, a computer security expert at Checkpoint, said: "A cryptocurrency is a digital means of exchange that is used to conduct transactions in the virtual world. In recent years, currencies such as Bitcoin have boomed, reaching a record $20,000.

Cyber criminals saw this as a very good opportunity, which led to the development of cryptocurrency extraction malware (…) Cryptocurrency extraction, which involves allocating the power of the computer or smartphone processor to perform calculations that verify transactions made in digital currency, remains one of the main trends in malware attacks. It is therefore essential to know the most widely used variants in order to put in place the necessary security measures. ».

It is certainly that the cybersecurity company then decided to carry out a study allowing to have a clear and precise idea of the methods used by cyber criminals to make extractions of cryptocurrencies.

At this level 4 methods are generally used for cryptocurrency hacking.

Method 1: The Bank Trojan

the Bank Trojan will be used by hackers in appearance as a legitimate software present in the training system Referred. Once this software installed in the relevant terminal, it will then allow cyber criminals to access and often be able to control the terminals that will be infected by the latter software. By this means, hackers will not only be able to spy on the victim, but also recover some necessary information for their misdeeds such as passwords and other identifiers.

Method 2: Ransomware

The use of ransomware is well known in the world of cybersecurity. In truth, with phishing, it is clear that it is the method of piracy that has the most impact. In 2019, its popularity has climbed further, given to this wave of piracy that has affected all economic sectors around the world. The ransomware system is simple. he consists of everything simply to prevent users from accessing devices that will be encrypted with a key developed by hackers. The latter will in exchange for the decryption keys the payment of a ransom usually made up of cryptocurrencies.

Method 3: Phishing

one practically knows it all how phishing works. Hackers will first set up a platform artificial. As a result, they will draw their target to this platform in view of their extract some cryptographic coins. Often through the dummy platform they simply go collect certain information about the end user. In this way, they will be able to easily impersonate him and use it to steal his cryptocurrencies.

Method 4: Key recorders

Key logs are malware that is usually installed without the knowledge of the user like the majority of them. It will allow hackers to record everything the user enters on their keyboard. The goal of course is to be able to recover certain credentials such as identifiers, email addresses, passwords… At this point user we do not realize the hacking often a little too late.

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