According to a web blog posted by a Japanese multinational cyber security and defense company ‘Trend Micro,’ it has found malware bugs in the Bitcoin ATM’s installed.
As per the company’s report, The company citedan advertismentdenoted by “apparently established and respected” user on a darknet forum that forjust a worthof $25,000 USD, criminalsmaypurchase Bitcoin ATM malware with installed ready-to-use card with EMV and near-field communication (NFC) capabilities.
The EMV chips were originally developed by leadingmastercardsuppliersto storeknowledgeon integrated circuitsinstead ofmagnetic stripes,whereasNFCpermitstwoelectronic devices to wirelessly exchangedata.
The maliciouspackagereportedly exploits a Bitcoin ATM vulnerability,thatpermitsfraudsters to receive the equivalent Bitcoins in future.
Another forum thread showed thatthe vendoradditionallyoffers regular ATM malware that has been updated as per new EMV standards. Further analysisunconcealedthat the malware exploits a menu vulnerability to disconnectAssociatedATM from the networkso asto disable alarms. Further stating Trend Micro stated:
“As long asthere’scashto be transacted— andthere’squitea reasonable market price of cryptocurrencies — cybercriminalscanstilldevise tools and to expand toremunerativenew ‘markets. As thisrangeof Bitcoin ATMs grows,we willexpectto examinea lot moretypes ofmalware targeting cryptocurrency ATMswithin the comingfuture.”
This is not the only case of malware bugs being developed to halt the crypto ecosystem. In July this year, Valve Corporation removed a game from its Steam game marketplace that allegedly hijacked users’ computers to mine Monero. An another research conducted by company ‘Duo Security’ this year stated hundreds of scams within the bots on Twitter platform, advertising fake giveaways. The study was concluded on more than 80 million accounts on twitter, with the researches using machine learning techniques to train bot classifiers. The further revealed more than a thousand bots spreading fake competitions and mimic towards some of the leading know figures within the crypto world.