Digital pickpockets target Bitcoin virtual currency

Hackers are targeting virtual currency Bitcoin, according to computer security firm Symantec
Hackers are targeting virtual currency Bitcoin, penetrating computers and swiping their digital wallets, according to computer security firm Symantec.

Hackers are targeting virtual currency Bitcoin, penetrating computers and swiping their digital wallets, according to computer security firm Symantec.

"Malware authors move fast," Symantec's Stephen Doherty said in a blog post about digital pickpockets targeting Bitcoin, which was created two years ago.

"We have seen a recent Trojan in the wild targeting Bitcoin wallets" in computers running various versions of Windows, Doherty said.

"It has one motive: to locate your Bitcoin wallet.dat file and email it to the ," Doherty said. "This is not surprising considering the potential values in a Bitcoin wallet."

Bitcoins are digital currency that are accepted by a few online merchants. They can be traded at online currency exchanges such as Mtgox.com for real dollars.

Doherty said Bitcoin users should consider encrypting their wallet files.

"If you use Bitcoins, you have the option to encrypt your wallet and we recommend that you choose a strong password for this in the event that an attacker is attempting to brute-force your wallet open," he said.

Earlier this week, a Bitcoin user going by the handle of "allinvain" claimed on a public Bitcoin forum that his computer had been hacked and 25,000 Bitcoins worth $500,000 stolen.

Bitcoins have drawn the attention of members of the US Senate recently following a report that they have been used to purchase prescription drugs, cocaine, LSD and heroin at an online network called Silk Road.

Senator Joe Manchin, a Democrat from West Virginia, and Senator Charles Schumer, a Democrat from New York, wrote a letter to the US Attorney General and the Drug Enforcement Agency asking for the immediate shutdown of Silk Road.

"After purchasing Bitcoins through an exchange, a user can create an account on Silk Road and start purchasing from individuals around the world and have them delivered to their homes within days," they said.


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Citation: Digital pickpockets target Bitcoin virtual currency (2011, June 17) retrieved 22 August 2019 from https://phys.org/news/2011-06-digital-pickpockets-bitcoin-virtual-currency.html
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Jun 17, 2011
lol. Congress wants the drug enforcement agency to shut down silk road.

I'd like to ask the idiots leading our country to consider whether we are capable of shutting down the site, or even if it legally falls in the US's jurisdiction. Yeah, that's right, the silk road is a cleverly secured site somewhere in the 200 million square miles of the surface of earth.

Law enforcement can make it a pain to use the site, but this one isn't one that you can ask to flip a switch and remove it. They don't even know where it is physically.

Jun 19, 2011
Bitcoins arent anonymous though, so whats the point, might as well use cash to buy drugs.

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