Malware Steals Your Bitcoin

Bitcoins have become popular as an alternative to government-controlled currencies, but a new Trojan seems to be specifically targeting Bitcoin wallets in an attempt to steal funds, security firm Symantec warns.

The malware, Infostealer.Coinbit, is fairly simple: It targets Windows machines and zeros in on the standard file location for a Bitcoin wallet. It then e-mails the wallet — a data file containing private crypto keys — to the attacker by way of a server in Poland, according to Symantec, which was first to alert on the attack.

“If you use Bitcoins, you have the option to encrypt your wallet and we recommend that you choose a strong password for this in the event that an attacker is attempting to brute-force your wallet open,” Symantec’s Stephen Doherty wrote in a blog post Thursday.

Current exchange rates place the value of one Bitcoin to about $23.50 USD as of late Friday afternoon, according to bitcoincharts.com. For an overview of how the system works, see the currency's official site.

Earlier this week, a hack on a Bitcoin user's Windows computer was said to have resulted in the loss of the equivalent of $500,000 USD. While the amount is said to be disputed -- such a large amount transferring would have caused a drop in the value of the Bitcoin, and some claim the system wouldn't have been able to handle such a large transfer.

Regardless of the claims validity, it is believed that hackers have been able to develop botnets to exploit the Bitcoin system, Symantec reported earlier this week. It is believed that based on current valuations, these efforts could be netting these botnet owners the equivalent of $100,000 per month.

Related articles

• There's a Virus that Will Steal all Your Bitcoins [Bitcoin] (gizmodo.com)
• New Bitcoin malware steals Bitcoin wallets: Infostealer.Coinbit (zdnet.com)
• Trojan Goes After Bitcoins (it.slashdot.org)