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TMCNet:  Kaspersky Lab research shows Bitcoin cybercrime is on the rise [T-break Tech (Middle East)]

[April 30, 2014]

Kaspersky Lab research shows Bitcoin cybercrime is on the rise [T-break Tech (Middle East)]

(T-break Tech (Middle East) Via Acquire Media NewsEdge) According to a financial cyber threats study carried out by Kaspersky Lab, malware targeting Bitcoin became extremely popular among fraudsters in 2013. The research shows that the number of attacks targeting the e-currency increased more than 2.5 times and accounted for 8.3 million incidents.


"During 2013 the value of bitcoins increased more than 85 times, and of course that attracted the attention of cybercriminals. By the end of the year the number of users attacked with malware targeting bitcoins was starting to close in on the number of those who faced more conventional banking cyber threats. Crypto-currency holders should be especially careful because it is almost impossible to recover any stolen money. This is the inherent risk in using a crypto-currency like Bitcoin that circulates without any government control,” commented Sergey Lozhkin, Senior Security Researcher at Kaspersky Lab.

Kaspersky Lab claims that stealing bitcoin information is relatively easy if the user stores bitcoins on their computers in an unencrypted form. This allows attackers to simply steal the wallet file and gain access to the victim’s account.

To use the e-currency safely, Kaspersky Lab advises users to store their wallet files on an encrypted media. For long-term storage, a user can make a transfer to a dedicated wallet and put the details down on paper. A reliable Internet Security class solution is also recommended.

The post Kaspersky Lab research shows Bitcoin cybercrime is on the rise appeared first on tbreak.

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