Malware targeting Bitcoin ATM is selling in the underground market

According to news.bitcoin, according to Trend Micro security researchers, malware targeting Bitcoin ATM is being sold in the underground market. $25,000, malware that exploits service vulnerabilities allows users to get the equivalent of bitcoin in euros, dollars or pounds.

Trend Micro senior researcher Fernando Mercês explained, “Unlike normal ATM, Bitcoin ATM does not have a single verification or security standard. For example, Bitcoin ATM does not require ATM, credit or debit card transactions, but involves the use of mobile numbers and identities. Certificate for user authentication.”

“The user must then enter the wallet address or scan their QR code,” Mr. Mercês continued. “The wallet used to store digital currency is also not standardized and is often downloaded from the app store, which brings another security issue.” Crypto is sold to malicious people via near-field communication, Europay and Visa/Mastercard pre-written cards. Purchased by the software purchaser.

Bitcoin ATM is close to 3,500 worldwide, and of course, malware is borderless. This special device is limited to languages such as German, English and Russian. The device should not be evenly distributed where Bitcoin ATM is mainly concentrated.

Bitcoin ATM is sold by malware in the underground market

Popularity attracts criminal attention

Adoption in German-speaking countries operates approximately 150 devices in more than 30 locations. For federal and Ukrainian Russian users, there are more than forty places where such malware can pose a potential threat to the machine. The English-speaking countries are the most promising countries, with more than 2,300 bitcoin ATMs between the United Kingdom (171) and the United States (2,166).

Bitcoin ATM is sold by malware in the underground market

Researchers emphasize standardization, and the lack of standardization is one of the biggest problems facing Bitcoin ATM security. Trend Micro claims that malware sellers have been reviewed more than 100 times, which could mean that information is spreading. The seller publicly seeks to distribute the cost of malware to the accomplices, providing something similar to the revenue sharing plan.

Bitcoin ATM is sold by malware in the underground market

Trend Micro concludes, “As long as there are funds available – and encryption currency in a considerable number of funds – cybercriminals will continue to design tools and extended to lucrative new markets” With the number of ATM Bitcoin grows, we can expect In the future, see more forms of malware for cryptocurrency ATMs.

This article is writing on 10 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258

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