Malware steals Litecoins, Bitcoin's younger sibling
Unsophisticated malware steals the 'wallet.dat' file, according to Eset
IDG News Service - A simple piece of malicious software is circulating that steals Litecoins, a virtual currency based on the Bitcoin system.
Security vendor ESET wrote the malware infects Windows computers. The program tries to steal "wallet.dat" files, which are used to store Litecoins in software programs.
The malware "is not very widespread at the moment, but Litecoin may become a target for attackers as its popularity and user base increases," wrote Robert Lipovsky, a malware researcher with ESET.
The malware sent the wallet file to a remote FTP server controlled by the attacker. But the web host has been made aware of the scam, and a warning is now shown when connecting to the attacker's FTP site.
The main Litecoin software application, called Litecoin-Qt, has a feature that lets users encrypt their wallet. An attacker would still need a password in order to unlock the coins.
Litecoin is closely based on the Bitcoin system. It uses the same protocol and a peer-to-peer network to transfer litecoins from one computer to another.
But Litecoin has taken a square aim at Bitcoin's weaknesses and claims to offer faster verification times for transactions. In Bitcoin's system, a transaction is usually considered legitimate if it achieves six verifications from the network, which can take from a few minutes to up to three hours.
Litecoin's system has been engineered to confirm transactions within three minutes, according to the project's website. Litecoins were trading on Wednesday for around $2.70 each, according to BTC-e.com, a virtual currency exchange.
Send news tips and comments to email@example.com. Follow me on Twitter: @jeremy_kirk
- Best iPhone, iPad Business Apps for 2014
- 14 Tech Conventions You Should Attend in 2014
- 10 Desktop Apps to Power Your Windows PC
- How to Add New Job Skills Without Going Back to School
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- The 12 PCI DSS 3.0 requirements addressed by Peer 1 Hosting This handy quick reference outlines the 12 PCI DSS 3.0 requirements, who needs to be compliant and how Alert Logic solutions address the...
- Defense Throughout the Vulnerability Life Cycle This whitepaper provides insight into how to leverage threat and log management technologies to protect your IT assets throughout their vulnerability life cycle.
- Mobile Policy Checklist Here's what to consider when putting together a mobile policy designed to support a highly productive workforce.
- Securing BYOD Mobile computing is becoming so ubiquitous that people no longer bat an eye seeing someone working two devices simultaneously. Individuals and organizations are...
- Live Webcast On-demand webinar: "Mobility Mayhem: Balancing BYOD with Enterprise Security" Check out this on-demand webinar to hear Sophos senior security expert John Shier deep dive into how BYOD impacts your enterprise security strategy...
- Live Webcast Endpoint Backup & Restore: Protect Everyone, Everywhere Arek Sokol from the bleeding-edge IT team at Genentech/Roche explains how he leverages cross-platform enterprise endpoint backup in the public cloud as part...
- Streamline Software Asset Management, Compose a software Management Symphony Keeping track of your organization's software is easy with effective software management solutions from CDW. View the videos in our software solutions channel
- Druva inSync: Endpoint Data Protection & Governance CLICK HERE to watch this video about protecting corporate data on laptops and mobile devices, sponsored by Druva. All Security White Papers | Webcasts