A team of researchers has discovered a new cryptocurrency mining malware that uses Google Chrome extensions to take advantage of PCs remotely without their owners’ consent or knowledge.
This is not the first time that malware has been used to mine cryptocurrency. Earlier this year, there were similar reports about remote software targeting computers and using up a large part of their computing capacity. It also adds to the growing list of problems that the cryptocurrency market is facing, such as cryptocurrency theft by cybercriminals and hackers.
The new discovery of malware targeting the Google Chrome browser adds to the list of such malware that has been reported this year. The Radware team revealed that they uncovered numerous malicious extensions for the Chrome browser that were hosted on the browser? official store.
The firm revealed in a blog post that its Threat Research Group discovered that some of the malware has been active since March. Radware also claims that the malware has affected more than 100,000 people in more than 100 countries. The company has given the name ?Nigelthorn? to the newly discovered Chrome malware.
The malware works by directing its victims to a fake youtube page that requests them to install a Chrome extension in order to play videos. The extension is downloaded and installed when the user clicks on the tab for ?add extension.? Once installed, it can then send spam and steal data from the user?s PC, making it possible for the hacker to access the PC and its connections.
Fortunately, the malware only seems to be focusing on the Chrome browser, meaning users who do not use the Chrome will not be affected. The discovery of the latest Chrome malware for cryptocurrency mining follows a recent warning to Google Chrome users about malicious extensions being advertised on Facebook.
According to researchers, malicious cryptocurrency mining extensions are being used to mine cryptocurrencies such as Monero (XMR), Bytecoin (BCN), and Electroneum (ETN). The Chrome extension uses an algorithm called ?CryptoNight.? The researchers claim that the Chrome extension malware campaign was able to mine cryptocurrencies worth $1,000 in just six days, thus highlighting how lucrative it is which explains the motivation behind the malware.
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