Crypto Opinions & News Microsoft warns of the rise of cryware targeting hot wallets

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Level 37
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Feb 4, 2016
“Cryware are information stealers that collect and exfiltrate data directly from non-custodial cryptocurrency wallets, also known as hot wallets. Because hot wallets, unlike custodial wallets, are stored locally on a device and provide easier access to cryptographic keys needed to perform transactions, more and more threats are targeting them.” reads the post published by Microsoft.

The experts pointed out that the theft of cryptocurrency is irreversible, unlike credit cards and other financial transactions there is no mechanism to reverse fraudulent transactions.
This cryware is automating the scanning process for hot wallet data exposed online.

The increasing popularity of cryptocurrency is attracting cybercrime that is using different means to target the cryptocurrency industry. Below is a list of threats that are currently leveraging cryptocurrency:

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