Chinese Bitcoin Traders Up Against New Malware

Where there’s a bill, there’s a way…

Even if Bitcoin dropped nearly $500 in a single day after the announcement that Chinese banks would not be backing the internet-based currency, millions of traders around the world still consider the investment sound, and have had no issues continuing on the legacy of what many consider to be a new paradigm in the world of fianance.

Shortly after BTC China — the largest exchange for Bitcoin in the East — began blocking new deposits, a variant of the Zeus P2P/Gameover malware began targeting users who rely on sites such as Coinbase to complete their purchases online. The new virus waits for users to login to their preferred trading network, and then requests that they enter a “one-time” password before

131118221627-china-bitcoin-story-top

A fraud prevention manager at Trusteer, Etay Maor, has suggested that the same crooks responsible for these hacks are interested in using Bitcoin to launder funds that may have been acquired outside the normal bounds of the law.

“So far, it is worth noting that most cybercriminals, whether they see Bitcoins as a platform or a target, are not keen on keeping their capital in Bitcoins,” Maor writes. “Rather, criminals use the currency as a middleman for laundering funds without leaving any tracks.

No matter what service you use to buy, sell, or trade Bitcoins, you should never connect to these websites without utilizing proper security measures first. Use a browser you can trust, verify all your certificates, and follow our tutorials that can teach you the absolute safest method of connecting to the web without putting your Bitcoins or the wallet you keep them in at risk.