Microsoft Is Looking Into Attack On Cryptocurrency Companies
Monday, January 30, 2023
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Microsoft Is Looking Into Attack On Cryptocurrency Companies

An investigation has been conducted by the security division of the multinational technology company Microsoft into an incident in which a malicious attacker targeted a variety of cryptocurrency investment organisations.

It has been discovered that a threat actor with the identifier DEV-013 was successful in infiltrating chat groups on the widely used messaging app Telegram, where they pretended to be representatives of a cryptocurrency investment organization. They pretended to have conversations about trading costs with high-profile customers of major exchanges. Because the hacker had such a comprehensive understanding of the subject, it was much simpler for them to win their victim’s confidence.

Their goal was to get cryptocurrency investment funds to download an Excel file by tricking them into thinking it was safe. The document, while it does provide accurate information regarding the fee structures of major cryptocurrency exchanges, also contains a malicious macro that executes another Excel sheet in invisible mode. This is despite the fact that the document does provide accurate information regarding the fee structures of major cryptocurrency exchanges. Because of this, it is now possible for the bad guy to get remote access to the machine of the victim that has been infected.

The results from Microsoft also show that there may be further campaigns that target cryptocurrency firms using the same methods that were used in this one. The multinational technology company draws the conclusion that the crypto market is “an area of interest” for online criminals. They are able to go after both large and small businesses. In order to protect oneself from assaults of this kind, Microsoft suggests adopting extra safety precautions.

In August of this year, a cybersecurity company known as Check Point Software Technologies made the discovery of a bitcoin mining malware operation that had infected more than 111,000 people. In April of last year, Microsoft and Intel announced that they were going to work together to stop illegal crypto mining. 

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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