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The number of websites sneaking in malware to mine cryptocurrencies such as Monero has grown by over 700% in recent months. Have you been affected?
Exponential Increase in Web Miners
This unprecedented rise seen recently in the cryptocurrency market has not come with its fair share of problems and controversy. It makes sense that in an emerging market that people will try to take advantage of newly emerging markets to turn a profit.
Whether this is with or without malicious intent, emerging markets always experience similar scenarios. In the case of cryptocurrencies, this has partially taken form in a vast amount of scams and malicious hacks and breaches.
An anonymous user on Pastebin has provided evidence that some wallet software may be generating private keys that can be easily discoverable, and therefore easy to take any bitcoins associated with that address. There has been no word on what wallet software is possibly affected, nor if this is a malicious act or a simple coding error.
TL;DR – Scroll to the last subsection
What is a Private Key?
I’m going to give a little bit of background and explain some terminology for those who don’t know how bitcoin works under the hood. The first thing is a private key. If you think of your bitcoin wallet address as a lock, the private key is the key used to unlock it and spend the funds inside.