Crypto Exchange Apps Under Threat of Trojan Malware Attack

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • The newest threat to the Mobile-based Crypto Exchange platform Application is the ‘Cerebrus’ Trojan Malware.
  • This threat was discovered by Amsterdam based Cyber Security company specialising in Financial securities named ThreatFabric.

The newest threat to the Mobile-based Crypto Exchange platform Application is the ‘Cerebrus’ Trojan Malware. This threat was discovered by Amsterdam based Cyber Security company specialising in Financial securities named ThreatFabric.

The Trojan Malware hijacks and makes a copy of codes for 2-factor authentication (2FA) which is generated by Authenticator App by Google exclusively for internet banking, email accounts, and most crypto exchanges.

Cryptocurrency Exchanges Like Coinbase Under threat of Malware

This threat has not only affected infamous exchange platforms but has also possessed on exchange giants including Coinbase. The US-based company is deliberately on the list of this malware action to execute its comprehensive list of goals. The malware has widely affected many financial and banking institutions and many social media apps.

When these attacks occur, this developed malware are circulated and sold over the dark web for individuals to carry out the attack. However, ThreatFabric has not yet discovered any ads or circulation regarding the Trojan Malware and has predicted that it will be released soon in circulation.

The Rise of ‘Cerebrus’ (Remote Access Trojan)

The current threat is faced by a beta version of the Trojan malware, whereas the updated version is yet to be released. The ‘Cerebrus’ (Remote Access Trojan) was first discovered in June in the previous year.

The previous version of ‘Cerebrus’ Trojan Malware was released in the mid of January 2020 which can easily attack to steal the 2FA codes provided by Google Authenticator including the hardware security systems such as screen lock patterns and passcodes of an individual’s Smartphone device. If once the Trojan Malware (RAT) gains access to the device, it can download the contents of the device and can manipulate under the instructions of the hacker and can remotely access the devices’ stored data and apps including the crypto exchange platforms.

There are three Trojans in play including the ‘Cerebrus’, and the other two are named Hydra and Gustaff, each Trojan specialises in the specific territory such as banking institutions of different regions.

On the positive side, the threats or imminent attacks can be avoided by using Physical Authentication Keys which eliminates the threat of a hacker gaining access to the individual’s assets remotely.

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