• Days
  • Hours
  • Mins
  • Secs
  • Mon, 16 Sep 2019, 02:35 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Cryptomining malware expected to become regular, low-risk revenue stream for cybercriminals: Europol

Thu, 20 Sep 2018, 10:06 am UTC

Europol, the European Union Agency for Law Enforcement Cooperation, has underscored the growing criminal abuse of cryptocurrencies in a new report.

The agency has published "Internet Organised Crime Threat Assessment 2018" (IOCTA) in which it has pointed out the rise in hacking attempts on cryptocurrency exchanges, mining and wallet services.

The report said that “cryptojacking” is an emerging cybercrime trend, which involves exploiting internet users’ bandwidth and processing power to mine cryptocurrencies. It emphasized that cryptomining malware could become a regular, low-risk revenue stream for cybercriminals.

“Cryptomining attacks may have minimal impact on their victims, resulting in few complaints made to law enforcement. Those which are reported may also not be given a high priority. It is therefore essential that law enforcement works with the internet security industry to curtail this activity and restrict this source of criminal revenue,” it said.

Internet giants are well aware of this growing threat and are already taking measures to protect users. Earlier this year, Opera rolled out cryptocurrency mining protection in all its mobile browsers. In April, Google announced a ban on Chrome extensions that mine cryptocurrency. More recently, the Mozilla Foundation, the not-for-profit organization behind Firefox, has announced its plans to start automatically blocking cryptomining scripts in the future versions of its web browser.

The report further noted that while Bitcoin’s share of the cryptocurrency market is shrinking, it is still the predominant cryptocurrency encountered in cybercrime investigations.

Importantly, while the authors claimed that terrorist groups have sought to raise funds via cryptocurrencies, they said that none of the attacks in Europe have been funded via cryptocurrencies. The report said:

"Yet despite the clear potential, none of the attacks carried out on European soil appear to have been funded via cryptocurrencies. The use of cryptocurrencies by terrorist groups has only involved low-level transactions – their main funding still stems from conventional banking and money remittance services."

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,210.80 (-1.16%)
  • Ethereum (ETH) $190.81 (+1.14%)
  • XRP (XRP) $0.259900 (-1.07%)
  • Bitcoin Cash (BCH) $303.97 (-0.37%)
  • Litecoin (LTC) $70.35 (-0.09%)
  • Bitcoin (BTC) $10,210.80 (-1.16%)
Sep 16, 2019 (Monday)
11:57
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:31
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:24
HTC’s blockchain smartphone Exodus 1 adds support for Bitcoin Cash
10:14
Crypto Technicals: DASH/USD capped below 50-DMA, 'Bullish Divergence' keeps scope for upside
06:51
Crypto Technicals: LTC/USD breaks above 21-EMA, scope for further gains
06:41
ConsenSys enters decentralized finance ecosystem with new product suite ‘Codefi’
06:06
Kaleido Blockchain integrates QEDIT Zero-Knowledge Proof Enterprise Privacy Solution
05:21
Crypto Technicals: ETH/USD extends 21-EMA breakout, pauses shy of 55-EMA, bias bullish
04:39
Canada-based Bull Bitcoin latest to join Blockstream’s Liquid Network
04:25
Crypto Technicals: BTC/USD extends sideways with no clear directional bias
04:12
FxWirePro Poll: Ethereum seen to rise but not recoup 2018’s drastic losses
03:32
CME's bitcoin index provider CF Benchmarks scores FCA license in Europe
03:30
eToro introduces programming language Lira to simplify derivatives trading
03:18
Crypto ATM chain Coinme reels $1.5M from Ripple's Xpring, Blockchain Finance
03:16
Crypto lending firm BlockFi now lets clients earn interest on any amount of crypto holdings
03:07
Facebook to face 26 central bank officials over Libra crypto project
03:02
Deutsche Bank signs up to JPMorgan's blockchain-based Interbank Information Network
Sep 13, 2019 (Friday)
11:12
Libra Association head confident about crypto launch in H2 2020
10:42
Blockchain industry welcomes Mastercard-R3 collaboration, but skeptical about the future of private networks
09:52
tZERO to bring blockchain to film financing via new partnership
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft