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Interpol’s Global Complex for Innovation identifies dangerous malware in cryptocurrency transactions

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Virtual transactions are generally considered the safest of all the web activities and are equally hard to tamper with. We might need to update our knowledge on that with Kaspersky and INTERPOL cyber threat researchers coming up with a new cyber threat research report.

A bunch of researchers from INTERPOL cyber threat team have spotted a loophole in the blockchain for virtual transactions which can be easily exploited and merged with data that is not supposed to be on web. The blockchain has a fixed open space that can be exploited if tapped into the right area.

It is this open space which was identified as the potential target for malware by experts, an INTERPOL officer and a seconded specialist from Kaspersky Lab, in the Research and Innovation unit at INTERPOL’s Global Complex for Innovation (IGCI).

Unfortunately, even the top minds in the developer teams have failed to untangle the data once merged with the genuine data in the blockchain for virtual transactions. This gives hackers an opportunity for storing, referencing and permanently hosting of their illegal data. The same was then proved by the researchers from Kaspersky Lab.

This potential target could lead to dozen of other cyber crimes such as the deployment of modular malware, a reshaping of the distribution of zero-day attacks, as well as the creation of illegal underground marketplaces dealing in private keys which would allow access to this data.

To conduct this type of research and identify new cyberthreats were among the key aims behind the creation of the INTERPOL Global Complex for Innovation. Having identified this threat, it is now important for INTERPOL to spread awareness amongst the public and law enforcement, Having identified this threat, it is now important for INTERPOL to spread awareness amongst the public and law enforcement, as well as encourage support from communities working in this field to find solutions for the potential blockchain ‘abuse’.

Though, the loophole has not yet been exploited by people that are not supposed to, it could become a possible means for cyber crime scenarios in the future such as the deployment of modular malware, a reshaping of the distribution of zero-day attacks, as well as the creation of illegal underground marketplaces dealing in private keys which would allow access to this data.


 

Senior Writer


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