According to a new report by Kaspersky Lab, an online security company, bitcoin malware has still been circulated for the year but the number of attacks has declined. These attacks usually come in the form of malicious emails that encrypt ransomware on computers and demand bitcoin payments to unlock the files or remove malware.
The company’s report on cybersecurity threats showed that bitcoin malware attacks accounted for 9% of financial bugs detected. Programs that stole funds from bitcoin wallets accounted for 6%. In comparison to Kaspersky’s Q2 report last year, illicit bitcoin malware accounted for 14% of online bugs while bitcoin wallet theft comprised 8%.
Bitcoin Malware Issues
Earlier this year, a number of companies and government agencies have reportedly been hacked by cybercriminals demanding bitcoin ransom payments. One such example is bitcoin ransomware Cryptowall, which spurred roughly $18 million in losses. Authorities are having difficulties tracking these perpetrators down because bitcoin transactions are anonymous and cannot be traced easily.
The firm inferred that the decline in bitcoin malware attacks probably had something to do with the decline in bitcoin prices, particularly compared to the previous two years.