Bitcoin ATMs Targeted by Malware for Sale in Underground Markets

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Malware aimed at Bitcoin ATMs is being sold in underground markets, according to Trend Micro security researchers. For $25,000, malware exploiting a service vulnerability allows users to nab bitcoin price equivalent in euros, USD, or British pounds.

Senior Threat Researcher at Trend Micro, the firm alerting enthusiasts, Fernando Mercês, explained, “Unlike regular ATMs, there is no single set of verification or security standards for Bitcoin ATMs. For example, instead of requiring an ATM, credit, or debit card for transactions, a Bitcoin ATM involves the use of mobile numbers and ID cards for user identity verification.”

“The user then has to input a wallet address or scan its QR code,” Mr. Mercês continued. “The wallets used to store digital currencies are not standardized either and are often downloaded from app stores, posing another security problem.” Crypto is bought through Near-Field Communication, Europay, and Visa/Mastercard pre-written cards sold to malware purchasers.

Bitcoin ATMs are cresting at something close to 3,500 around the world, and, of course, malware is borderless. This particular strain is limited to languages such as German, English, and Russian. These tongues correspond to where Bitcoin ATMs are mostly clustered, as the devices are not evenly distributed.

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