Warning: Bitcoin (BTC) Criminals Target Gate.io

The cybersecurity firm ESET sent out a warning to alert to the global cryptocurrency community. According to the report, cyber criminals launched a campaign to target Gate.io and steal large amounts of Bitcoin (BTC) from hodlers. However, the cyber security experts managed to obstruct this ploy.

According to a ZDnet report, the crypto thieves attempted to attack StatCounter, a web-based online traffic analytical tool. In fact, they launched their malicious codes into the StatCounter script. Besides StatCounter, the thieves also targeted 688,000 other websites, the report said.

Gate.io the main target

In fact, ESET researchers say that a cryptocurrency exchange, Gate.io, was the primary target. While releasing the red alert, ESET officials noted that they informed the affected website. ESET malware researcher Mathieu Faou was the one who unraveled the Bitcoin security threat.

Faou disclosed that the aim of the malicious code was to hijack any transaction a user initiates on the Gate.io web interface. Similarly, the malware researcher observed that the malicious code automatically replaces the Bitcoin address that a user keys in. On further research, Faou found that the code was being added since November 3rd.

The technical details of the malware

Regarding the details of the malicious code, Faou disclosed that different Bitcoin addresses were used for each victim. Sadly, all efforts by the team to trace the attackers’ main Bitcoin address were futile. Faou said that they tried to follow the BTC address to enable them to pivot the blockchain transactions and unearth related attacks.

When ZDNet contacted the Gate.io exchange for comment on the latest development, they declined to respond. However, the ESET team said that the digital currency exchange had since removed the StatCounter script from their website. They added that Gate.io stopped using StatCounter, which means that Gate.io users are safe now.

Related Bitcoin news

Cryptocurrency experts say that there are strong indications that Bitcoin may experience a end-of-the-year rally. One of whales bullish on the future of Bitcoin is the eToro’s senior market analyst, Mati Greenspan. Greenspan strongly believes that the preeminent cryptocurrency will experience a Yuletide rally.

He observed that it is not uncommon to see stock rally in traditional markets due to heightened activities in the private sector this time of the year. He indicated that the market moved northwards this week, citing the proposed Bitcoin Cash (BCH) hard fork as the reason.

 

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