Chainalysis reported that Low profile malware is stealing millions

According to recent malware research from blockchain analysis company Chainalysis, cryptojacking accounted for 73% of the total value collected by malware-associated addresses between 2017 and 2021.

Malware is software that is downloaded without the victim’s knowledge and then used to carry out nefarious activities on the targeted computer, such as a smartphone or PC. Information theft, denial-of-service (DDoS) attacks, and large-scale ad fraud are all examples of malware-powered crime.

The report did not include ransomware, which entails using hacking and software to extract ransom payments from victims to stop the attacks. According to Chainalysis:

“While most tend to focus on high-profile ransomware attacks against big corporations and government agencies, cybercriminals are using less sophisticated types of malware to steal millions in cryptocurrency from individual holders.”

The Jan. 19 report from Chainalysis focuses on the various types of crypto-malware used over the last decade, excluding ransomware, such as info stealers, clippers, cryptojackers, and trojans, noting that they are generally inexpensive to acquire and can be used by even “low-skilled cybercriminals” to syphon funds from their victims.

Cryptojacking and Trojans account most value collected by malware attacks

Cryptojacking scored first in terms of value received from malware (73%), followed by Trojans (19%), ‘Others’ (5%), and information thefts and clippers (1% each).

Malware addresses, according to Chainalysis, transfer the majority of the money to addresses at centralized exchanges,” but this percentage is decreasing. In 2021, just 54% of funds from those locations were received by exchanges, compared to 75% in 2020 and approximately 90% in 2019.

As TheCoinRise reported, blockchain security company CertiK recently said that centralized vulnerabilities are the biggest reason behind DeFi attacks.

“DeFi protocols make up much of the difference at 20% in 2021, after having received a negligible share of malware funds in 2020,” the report says.

The research focuses on the well-known Hackboss clipper, which has stolen roughly $560,000 by infecting users’ clipboards and stealing and replacing information since 2012.