MSIL/PSW.LiteCoin.A Description

Bitcoin mining is a way of generating money using computer processing power. There are many advantages to a digital currency. However, there is one particular disadvantage to digital currencies like Bitcoin: they exist online, meaning that malware can be designed to steal or manipulate them in some way. Malware threats specifically designed to steal Bitcoin or to take over the victim's computer in order to use the victim's processing power to mine this digital currency. Recently, a new digital currency was released. Known as LiteCoin, this digital currency is nearly identical to Bitcoin but has several advantages that have increased its popularity, particularly in the face of several publicized problems with Bitcoin exchanges in recent months. MSIL/PSW.LiteCoin.A is one of the first malware infections that attempt to steal LiteCoin from the victim's computer. If you trade with LiteCoin or use digital currency, ESG security researchers strongly advise using a reliable anti-malware program to protect your money from malware infections like MSIL/PSW.LiteCoin.A.

The Main Task of MSIL/PSW.LiteCoin.A

MSIL/PSW.LiteCoin.A is specifically designed to steal LiteCoin. The MSIL/PSW.LiteCoin.A infection is not as sophisticated as some of the advanced Bitcoin mining malware that is active today. Basically, the MSIL/PSW.LiteCoin.A Infection simply attempts to steal the wallet.dat file on the victim's computer. This file is the LiteCoin wallet and contains all the information that allows a computer user to own and mine this digital currency. What MSIL/PSW.LiteCoin.A does is essentially attempt to steal this file and send it to the victim through FTP. Among the advantages of these kinds of digital currencies is that they are essentially anonymous, and they have increased in use due to their involvement in online drug sales and money laundering. This means that criminals can steal them with impunity since it is almost impossible to prove the source of the LiteCoin in question once it has been stolen.

Fortunately, attacks involving MSIL/PSW.LiteCoin.A are not currently common. However, high profile Bitcoin exchange websites are starting to incorporate LiteCoin in their services. This means that the popularity of this digital currency will increase, meaning that criminals will also start to develop more sophisticated malware to attempt to steal it or mine it using the victim's computer's resources. Since PC security researchers have identified the FTP server being used to steal LiteCoin, accessing this domain now results in the message: 'User [user name] from BTC-E exchange uses this ftp address to steal wallets from cryptocoiners! BEWARE!'

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