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Tommy Armendariz

Virtual Currencies Continue to Fuel Malware

By February 1, 2014

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bitcoin1.pngMcAfee predicts that virtual currencies will fuel malware attacks globally in 2014. In general, growth in virtual currencies benefits and promotes economic activity. However, this has also provides cybercriminals with an anonymous payment infrastructure that they use to collect money from their victims.

Ransomware attacks, such asáCryptoLocker, will continue to flourish as long as these attacks remain profitable. Furthermore, we may see new ransomware attacks aimed at enterprises.

The good news is that thought the ransomware payload is unique, the methods cybercriminals use to distribute ransomware (spam,ádrive-by downloads, infected apps) are not. Therefore, keeping systems current and practicing good security practices will keep you relatively safe from these threats.

Finally, the emergence of virtual currencies and its anonymous transaction infrastructure has led to the development of a number of "Deep Web" marketplace sites that specialize in retail distribution of illegal products and services. The largest of these sites was Silk Road, which was shut down by the FBI on October 2013. Although the closure of Silk Road was a huge win for law enforcement, there are many of these Deep Web marketplaces operating globally. This issue is not going away anytime soon.

Image ęPhil Williams

February 6, 2014 at 9:52 am
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February 18, 2014 at 5:28 am
(2) Nancy Reagan says:

This is a great post. I really like it. It is very useful and interesting. Thank you for your nice post.

March 25, 2014 at 1:21 pm
(3) Roz Walters says:

Not sure if I am being rather dim, but I just don’t see the point in these virtual currency things. Not that I’ve exactly been paying attention of course, but then I pay for items I buy via either credit card, or better still PayPal. Soooo what am I missing, if anything?

April 3, 2014 at 3:04 pm
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