Bitcoin stealing malware: Bitter reminder for crypto users to stay vigilant
An unfortunate Bitcoin (BTC) user was duped out of 0.255 BTC, almost $10,000, due to malware running on their computer.
Louis Nel, a tech blogger and crypto enthusiast, flagged the issue on Twitter, referring to his friend as ‘C.’
A friend sent 0.255BTC from his bitcoin wallet to an exchange.He copied and pasted the wallet address on his computer.After 4 hours he was worried when the funds did not arrive at the exchange...
Nel told Cointelegraph that C’s “Bitcoin was sent from Kraken to VALR, a South African exchange,” however, “malware running on his computer intercepted the copied data and inserted a new wallet address when he pasted this without realizing.”
Kraken exchange confirmed that the wallet address does not belong to them; in further warning signs, Nel added that “there are 9 transactions into that wallet, so others have been duped as well.”
The wallet address in question now has a value of 0.27 BTC but the funds have not moved. Nel shared a photo of the wallet address with connected addresses:
Malware attacks are nothing new to the world of crypto finance or indeed to Bitcoin transactions. Chainalysis estimates that as much as $500,000 was stolen by just one malware bot over the course of 2021.
Plus, malware attacks can happen to seasoned cryptocurrency enthusiasts: C first got involved in Bitcoin and cryptocurrency in 2018. The malware attack is rotten luck for C, but a poignant reminder for cryptocurrency users.
Transactions on Bitcoin are irreversible, or “immutable”, meaning that once the funds have left a wallet, no party can manipulate or falsify data, or send back the money. While it’s one of the protocol’s strengths, in situations such as this malware attack, it’s a double-edged sword. Nel suggested:
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