Tuesday, January 31, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Cryptocurrencies

new cryptocurrency scam steals $2 million in Monero from gamers

MtR by MtR
June 25, 2021
in Cryptocurrencies
0


  • Researchers at Avast have detected a new cryptojacking malware that’s targeting gamers across the globe, including India.
  • Dubbed Crackonosh, the malware is assumed to have a Czech origin.
  • The hackers behind the scam have made over $2 million in Monero (XMR) through the scam.

Grand Theft Auto V, NBA 2K19, and Pro Evolution Soccer 2018 players are being duped into mining for cryptocurrency — and they may not even know it.

In their quest to profit off of the currency rage around
cryptocurrencies, hackers have now turned their attention to gamers as per new research by antivirus software make
Avast. The report highlights that cybercriminals are spreading malware by duping people into downloading games that are laced with malware.



Avast has been able to catch over 800 cases on a daily basis. The researchers estimate that the perpetrators have been able to make over $2 million worth of Monero (XMR) through the scam using the malware called Crackonosh.
Monero is a privacy coin that is infamous for being used by cybercriminals because it is much more difficult to trace than other cryptocurrencies like Bitcoin.

A new cryptocurrency scam targeting gamers has already siphoned off $2 million in Monero
Avast blog post

What is Crackonosh and how does it work?



According to Avast, Crackonosh has been able to fly under the radar because the malware has built-in mechanisms to disable security software and updates. This makes it difficult for victims to detect the program, let alone remove it from their systems.

Advertisement


A new cryptocurrency scam targeting gamers has already siphoned off $2 million in Monero
Reddit via Avast blog post

The malware itself is assumed to have Czech origins, but its victims are spread out all over the world — the US, the Philippines, Brazil and even India, which accounts for 6% of the overall people affected.

A new cryptocurrency scam targeting gamers has already siphoned off $2 million in Monero
Avast blog post

Cryptojacking schemes, like Crackonosh, install malware called miners into unsuspecting users’ computers, which then use the computer’s processing power to mine
cryptocurrency.



This makes gamers amongst the most lucrative targets, since gaming devices carry the most powerful processors and graphics chips in the PC segment.

Cyrptojacking is the new ‘get rich quick’ scheme


The Crackonosh malware is a part of the growing number of cryptojacking schemes that security experts have detected across the internet over the past year.

Fellow cybersecurity firm and antivirus software provider,
Kaspersky, warned that cryptojacking scams were on the rise earlier this month. The company said it had seen over 432,171 encounters with such malware between January to March in 2021. And, 200,045 of these encounters were in the month of March alone.

Malware researchers from CISCO also
found such malware embedded in cheat software for games in March.

Even before the boom of 2021, Japanese tech services provider, NTT, claims that cryptojacking malware accounted for 41% of all malware last year.

Since they run in the background, such scams are tough to detect. Issues like slow or sluggish performance, wearing out of components and increased electricity bills — for those who run external graphics chips — could be a sign that your PC has been infected.

For a more in-depth discussion, come on over to Business Insider Cryptosphere
— a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve.



SEE ALSO:
IDFC First Bank joins ICICI Bank, Yes Bank and others in stopping services to crypto companies, despite RBI’s nudge to ignore its 2018 order

Windows 11 is getting Android apps – you will soon be able to natively run PUBG Mobile and other popular Android apps and games



Source link

Related articles

Crypto Credit Cards and Debit Cards: What You Need to Know – CoinDesk

August 8, 2022

Cryptocurrency companies spend $2.4B on sports sponsorships

August 8, 2022

Related Posts

Crypto Credit Cards and Debit Cards: What You Need to Know – CoinDesk

by MtR
August 8, 2022
0

Crypto Credit Cards and Debit Cards: What You Need to Know  CoinDesk Source link

Cryptocurrency companies spend $2.4B on sports sponsorships

by MtR
August 8, 2022
0

At F1’s inaugural GP in Miami this spring, the entire complex was decked out in signage from title sponsor Crypto.comGetty...

Binance CEO, Changpeng Zhao, warns of cryptocurrency risk, as investors lose $1.11 trillion

by MtR
August 8, 2022
0

The founder of Binance, the largest cryptocurrency exchange platform, Changpeng Zhao, has warned cryptocurrency traders of the danger of the...

The Number of Cryptocurrency ATMs Installed Worldwide Surpasses 39,000 – Bitcoin News

by MtR
August 8, 2022
0

This week the number of cryptocurrency automated teller machines (ATMs) operating worldwide has surpassed the 39,000 mark. Since January 2017...

‘As the Cryptocurrency Market is Showing Some Signs of Recovery, Here Are Some … – Latest Tweet by Litecoin

by MtR
August 8, 2022
0

'As the cryptocurrency market is showing some signs of recovery, here are some cryptocurrencies you must look into..' - @analyticsinme...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter