November 2, 2017 By Douglas Bonderud 2 min read

Bitcoin is breaking records. As noted by Business Insider, the cryptocurrency hit an all-time high on Nov. 1, 2017, and its bull run shows no sign of losing steam. Traders are hoping that the new SegWit2x software update could mean a windfall of free dividend currency if a new bitcoin variant is created.

But cybercriminals are also looking to cash in on free digital coins. According to Bleeping Computer, new bitcoin malware attacks have already co-opted more than $150,000 of the high-value cryptocurrency.

Payment Pasting Problems

Discovered by Kaspersky Lab, the new attack strain, called CryptoShuffler, uses a simple tactic to steal valuable bitcoins from unsuspecting users: copy and paste.

First, attackers compromise target devices and the CryptoShuffler code begins monitoring clipboard activity. That’s because many users copy and then paste the recipient’s wallet ID into transaction destination fields, which is easier than remembering the entire string and wiser than writing it down.

CryptoShuffler simply bides its time until it detects common cryptocurrency wallet string characteristics. The malware then intercepts the copied wallet string and replaces it with one that sends money directly to the attackers. If a user doesn’t carefully check the intended recipient wallet address against the one he or she pasted, fraudsters will get the windfall.

As Kaspersky Lab noted, the efficacy of CryptoShuffler shows that “many kinds of malware try to keep a low profile and to operate as stealthily as possible.” By sitting quietly in memory and monitoring only the temporary cut-and-paste clipboard process, users won’t see any performance degradation, random pop-ups or ransom messages.

Since bitcoin transactions are one way unless both parties agree to the payment, there’s little recourse for users who have been victimized. While this Trojan reached peak activity late last year, it’s enjoying new life as the price of bitcoin skyrockets.

Making a Mint With Bitcoin Malware Attacks

Clipboard threats aren’t the only malware attacks targeting cryptocurrency. BBC noted that coin-mining malware is quickly becoming a problem for websites.

In fact, Google is considering rolling out Chrome defenses to safeguard devices against resource-exploiting bitcoin mines. But these malicious miners leave behind traces of their activity, and device processing power can be significantly reduced as fraudsters leverage every available cycle to grab more coins.

CryptoShuffler, meanwhile, takes advantage of the growing ubiquity of cryptocurrency. Users now have typical purchasing processes, which include copying and pasting destination addresses for quick payment. By exploiting day-to-day behavior rather than network or OS-level actions, attackers enjoy both greater success and a reduced chance of detection.

This puts the onus on users to monitor for any suspicious processes — Kaspersky identified Trojan-Banker.Win32.CryptoShuffler.gen as the most common variant — and avoid potentially compromised downloads or email attachments. Given bitcoin’s burgeoning bull run and ballistic trajectory, users may want to consider cutting out the copy-and-paste practice and instead take the time to input recipient wallet codes bit by bit.

More from

When ransomware kills: Attacks on healthcare facilities

4 min read - As ransomware attacks continue to escalate, their toll is often measured in data loss and financial strain. But what about the loss of human life? Nowhere is the ransomware threat more acute than in the healthcare sector, where patients’ lives are literally on the line.Since 2015, there has been a staggering increase in ransomware attacks on healthcare facilities. And the impacts are severe: Diverted emergency services, delayed critical treatments and even fatalities. Meanwhile, the pledge some ransomware groups made during…

AI and cloud vulnerabilities aren’t the only threats facing CISOs today

6 min read - With cloud infrastructure and, more recently, artificial intelligence (AI) systems becoming prime targets for attackers, security leaders are laser-focused on defending these high-profile areas. They’re right to do so, too, as cyber criminals turn to new and emerging technologies to launch and scale ever more sophisticated attacks.However, this heightened attention to emerging threats makes it easy to overlook traditional attack vectors, such as human-driven social engineering and vulnerabilities in physical security.As adversaries exploit an ever-wider range of potential entry points…

4 trends in software supply chain security

4 min read - Some of the biggest and most infamous cyberattacks of the past decade were caused by a security breakdown in the software supply chain. SolarWinds was probably the most well-known, but it was not alone. Incidents against companies like Equifax and tools like MOVEit also wreaked havoc for organizations and customers whose sensitive information was compromised.Expect to see more software supply chain attacks moving forward. According to ReversingLabs' The State of Software Supply Chain Security 2024 study, attacks against the software…

Topic updates

Get email updates and stay ahead of the latest threats to the security landscape, thought leadership and research.
Subscribe today