Survey by Trend Micro: Bitcoin malware, India among top targets

As per a survey conducted by the IT security firm Trend Micro, Bitcoin mining malware is infecting millions of computers globally and extending the threat of cyber security risks for users of the cyber currency. Thousands of computers, including in India, are being infected with malwares related to the virtual currency. Bitcoin mining is resource-intensive and can slow down the system due to the increased CPU load. The infected computers will become very slow on system operation, also appears heavy CPU and power consumption.

Major points related to the survey conducted by the IT security firm Trend Micro
  • Most of the countries of the Asia Pacific (APAC) region are affected by the Bitcoin-mining malware. Japan is the most affected country, followed by Taiwan, Australia and India.
  • Bitcoin users have become the hot target for cyber criminals as bitcoin transaction is permanent and has no reversal of charges.
  • About 12,000 personal computers have been globally affected by malwares (related to bitcoin) which were causing severe slowdown of computer systems making them “virtual assets for the criminals
About Bitcoin

Bitcoin is a virtual currency that is unregulated by any central bank or government, but still works for purchasing goods and services from retailers willing to accept it. It can also be traded on an open market that fluctuates much like a stock market. Bitcoin is a distributed peer-to-peer digital currency that functions without the inter-mediation of any central authority. Bitcoin is also called a “cryptocurrency” since it is decentralized and uses cryptography to prevent double-spending, a significant challenge inherent to digital currencies.

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Categories: Science and Technology Current Affairs - 2017

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