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According to a new malware report from blockchain analysis firm Chainalysis, cryptojacking accounted for 73% of the total value received by malware-related addresses between 2017 and 2021.
Malware is used to perform malicious activities on a victim’s device, such as a smartphone or PC, after being downloaded without the victim’s knowledge.Malware-driven crime can range from information theft to denial of service (DDoS) attacks or massive ad fraud.
The report ruled out ransomware, which involves the initial use of hackers and malware to thwart attacks by exploiting the ransom paid by victims.chain analysis stated:
“While most people tend to focus on high-profile ransomware attacks targeting large corporations and government agencies, cybercriminals are using less sophisticated types of malware to steal millions of cryptocurrency from individual holders. “
January of Chain Analysis. 19 Report Focuses on various types of cryptomalware, excluding ransomware, used over the past decade, such as infostealers, trimmers, cryptojackers, and Trojans, noting that they are often cheap, even “low-skilled networks” Criminals” can also use them to siphon victims’ funds.
Cryptojacking topped the list of value gained through malware with 73%, Trojans came in second with 19%, “other” totaled 5%, and information stealers and trimmers each made up just 1%.
According to Chainalysis, the malware addresses move “the majority of funds to addresses on centralized exchanges,” but note that this number is declining. As of 2021, exchanges have received only 54% of funds from these addresses, compared to 75% in 2020 and around 90% in 2019.
“After receiving a negligible share of malware funding in 2020, DeFi protocols make up most of the 20% difference in 2021.”
The report examines the theft of approximately $560,000 since 2012 by the prolific Hackboss clipper, which infects users’ clipboards to steal and replace information. It found “Cryptobot” information stealers to be a significant source of ill-gotten gains in 2021, generating $500,000 worth of Bitcoin (BTC) from around 2,000 transactions.
cryptojacking
cryptojacking malware Exploit the victim’s computing power Mine various cryptocurrencies, choosing the target asset “usually Monero”, but sometimes Zcash (ZEC) and Ethereum (ETH).
The exact amount generated by this method is difficult to pin down, Chainalysis noted, because funds are transferred from the mempool to an unknown mining address, rather than “the victim’s wallet to a new wallet” in other cases.
While no estimated monetary figures are available on the harm done by cryptojackers, Chainalysis expects this malware type to account for nearly three-quarters of the total value generated by cryptomalware.
The report noted that a 2020 report from Cisco’s cloud security division said cryptojacking affected 69 percent of customers, thus translating into “a staggering amount of stolen computer power” used to mine large amounts of cryptocurrency.
It also highlights a 2018 report from Palo Alto Networks, which estimated that 5% of Monero’s circulating supply was mined by cryptojackers, estimated to be worth around $100 million in illicit revenue.
related: Crypto.com Breach Could Be Worth Up to $33M, On-Chain Analyst Says
Information Stealers and Clippers
Infostealers are used to steal victims’ encrypted wallet information and account credentials, while clippers can be used to insert specific text into the victim’s clipboard.
Clipper malware is commonly used to hijack Victim’s Outgoing Transaction Insert the cybercriminal’s wallet address when the victim tries to paste the sending address.
The report noted that both types of malware received a total of 5,974 transfers from victims in 2021, up from 5,449 the year before.
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