There are several issues that the cryptocurrency industry deals with on a consistent basis such as hacks, scams, theft and, of course, botnets. Botnets refer to the use of certain technology to hack into computers for various malicious reasons such as theft of cryptos and crypto-jacking.
It has been reported on August 27, 2019, that French police have cracked down on the large Monero botnet that had been used for crypto-jacking and had stolen significant amounts of computer processing power.
How It Works
According to the official police reports, the botnet carried out at work by sending emails that promised money in exchange for erotic pictures and this was spreading viruses and was further propagated through the use of USB devices. All these efforts led to the virus been distributed across 850,000 computers across 100 different countries.
“People may not realise it but 850,000 infected computers means massive firepower, enough to bring down all the (civilian) websites on the planet,” Jean-Dominique Nollet, the Head of the C3N, said.
More details about the case reveal that the hackers have been making use of the botnet to mine XRP tokens without the consent of the computer owners and had also received crypto through the use of ransomware and also stole sensitive information from Isreali hospitals. This is not the first time that botnets have been uncovered but the sheer skill and size of this operation is remarkable and shows that these activities are still prevalent within the industry.
Thankfully, French police have been able to discover the source of the botnets which was located in Paris and were also able to disinfect the computers by redirecting the virus to a harmless destination with the help of the FBI, therefore, bringing an end to some of the criminal activities. Unfortunately, they have not yet been able to capture the perpetrators of the crime and this is estimated that these activities have been going on since 2016 and millions of dollars have been made in the process.