Trustwave Spiderlabs Researchers Warn of New Malware Strain That’s Draining Crypto Funds

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According to researchers from Trustwave Spiderlabs, a strain of malware known as Rilide helps cybercriminals steal funds from cryptocurrency exchanges. Although the measures taken to combat this malware are likely to make life more difficult for cybercriminals, two researchers Pawel Knapczyk and Wojciech Cieslak have stated that this alone may not be enough to “fully solve the problem “.

Malicious browser extensions

Researchers from Trustwave Spiderlabs recently reported discovering a new strain of malware that clandestinely draws funds from crypto wallets. According to researchers, the malware, known as Rilide, disguises itself as a legitimate Google Drive extension. In addition to giving cybercriminals the ability to monitor the browsing history of their targeted victims, Rilide enables the injection of “malicious scripts to steal funds from cryptocurrency exchanges”.

In their blog post published on April 4, the two researchers Pawel Knapczyk and Wojciech Cieslak concede that Rilide is not the first malware to use malicious browser extensions. However, researchers said they saw how the malware tricks users before draining funds from their respective crypto wallets.

“Where this malware differs is that it has the effective and rarely used ability to use fake dialogs to trick users into revealing their two-factor authentication (2FA) and then withdrawing cryptocurrencies by background,” the researchers explained.

While measures such as the pending application of the so-called v3 manifesto should make life a bit more difficult for cybercriminals, Knapczyk and Cieslak say that alone may not be enough “to fully solve the problem because most Features operated by Rilide will still be available.

Meanwhile, in their warning to users, the two researchers reiterated the importance of remaining “vigilant and skeptical” whenever they receive unsolicited emails. They added that users should “never assume that content on the Internet is safe, even if it appears to be”. Likewise, users should always strive to stay up-to-date and up-to-date with the latest happenings in the cybersecurity industry.

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

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