News

New ransomware turns PCs into Bitcoin mining machines

Bitcoin purchases have become all the rage lately, expanding from the virtual platform into the real world. Before, users utilized the digital currency to make online transactions for a host of technology capabilities and other systems. However, as the Bitcoin trend continues to gain steam, users can now use their Web-based cash to purchase everything from consumer items to real estate.

According to CNBC, a new e-commerce site was launched at the beginning of February that enables users to trade their Bitcoins for several unique items. For example, users boasting Bitcoin wallets in the neighborhood of 19,000 can purchase a condo at the Trump SoHo Hotel in New York, and still have change leftover. Other items featured on the site include artwork, watches and luxury vehicles.

Website founder and CEO Alan Silbert told the news source that the platform is currently a part-time venture for him.

"In general, we want to evaluate the purchasing power of bitcoin and give the bitcoin community something they don't have right now," Silbert said. "It's an amazing concept and opportunity, and it's going to evolve many times over from here."

However, as the world of Bitcoin continues to expand to include new purchasing capabilities, the digital currency is also becoming an increasingly attractive target for hackers.

Bitcoin ransomware
Many users are aware of several forms of ransomware that have appeared within the past couple years. One of the most well known samples is CryptoLocker, which blocks user access to all files located on the infected computer through high level encryption until the individual pays a ransom for the decryption key. The Guardian recently reported that hackers have taken a new approach to this style of attack with a ransomware strain called "Trojan-Ransom.Win32.Linkup," or simply Linkup.

Whereas previous ransomware samples immediately lock users from their files, this strain is a bit different.

"It does not directly lock your computer or encrypt files," researchers stated according to The Guardian. "Instead, Linkup blocks Internet access by modifying your DNS and can also turn your computer into a bitcoin mining robot."

In this way, when users attempt to load any website, traffic is redirected to a forged page alerting them that they have been caught viewing child pornography and are charged with a one cent fine. The Guardian noted that individuals are asked to input credit card information, which is likely charged more than one cent by black hat attackers. Researchers described the fine as "most likely a blatant lie."

The malware also downloads bitcoin-mining software onto infected endpoints which hijacks the machine's processor to mine digital currency. The mining practice requires a considerable amount of energy, and could damage the computer while resulting in large electricity charges. Hacker News also stated that the malware has the ability to disable certain security measures on workstations, making it easier to expand its reach. The sample can replicate itself and bring down Windows Security and firewall programs.

One security firm noted that cybercriminals' ability to combine ransomware and Bitcoin mining is a new development in the industry. However, users can better protect their systems with monitoring software and encryption programs to safeguard online currency. An SSL certificate can be deployed to encrypt Bitcoin wallets for better security.

Protect data in transit with an SSL certificate today.

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