Panda Malware: Your Crypto Wallet is at Risk; What Do You Need to Do?

The new Panda malware is currently targeting crypto wallets. Researchers also claimed that it also focuses on various application credentials.

Right now, the so-called Panda malware is currently targeting users’ cryptocurrency wallets. This is just one of the malicious systems that are developed by hackers and other cyber attackers to trick their victims and breach their accounts to steal their sensitive data.

On the other hand, the new Panda malware is a new information-stealing device virus that was discovered by Trend Micro, which is a reliable cybersecurity software firm. The security company’s researchers said that “crypto wallets are now as big of a target for online theft as banking accounts are,” said the Trend Micro researchers who discovered the attack. With more people getting into cryptocurrencies and the values of said cryptocurrencies still increasing, this will only become a greater threat moving forward.”

Aside from this, the involved security experts and researchers also said that the new Panda malware could be more dangerous compared to other viruses since it is different from a credit card theft or a bank robbery. They added that it could have no central authority that can undo malicious transactions.

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Once the new Panda malware successfully steals your money and the transaction made goes on the blockchain, there’s a high chance that the victims can no longer recover them. This is also the reason why they are now advising the users not to be too confident when it comes to using crypto-wallets. Here are other specific details of the new malware that you should know about.

How Efficient is the New Malware?

Trend Micro’s experts said that at a high level, the new Panda Malware begins to spam messages that contain a malicious attachment or file, which specifically uses PowerShell scripts. These specifically include task automation and configuration management coding language Microsoft.

All of these files are needed so that the hackers can install the actual Panda Stealer malware, which is then loaded without files onto the affected system. The researchers said that “none of this is particularly novel in and of itself – malicious Office documents are well known, so is fileless loading. The main ‘new’ aspect here is the target of the data theft.”

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Aside from attacking cryptocurrency wallets, security experts also claimed that the new computer virus also attacks various applications such as Telegram, Discord, and other popular messaging platforms which are used by people to communicate with those who are also in the cryptocurrency communities.

The researchers at Trend Micro said that this new computer virus was first spotted back in April. They said that this is the time it became active, sending spam emails the same rare fileless distribution method as a separate recent attack.

On the other hand, another cybersecurity firm called Morphisec discovered another computer virus called the Phobos malware or ransomware campaign. They said that it was also discovered last April, using identical fileless distribution. This means that they could be the same malware.

Because of this, the security researchers said that they are having some difficulties tracking the new computer virus using their security tools.