Cryptocurrency app found to contain ransomware

With the rapid growth of cryptocurrency comes a demand for digital wallets. This has led to increased criminal activity. SpriteCoin is advertised as a digital wallet to keep cryptocurrency safe but is in fact ransomware, according to cybersecurity researchers Fortinet.

SpriteCoin wallet is a fake cryptocurrency app that will take over a device and install ransomware when downloaded. A ransom note will then demand 0.3 Monero (about €73.84) for files to be decrypted, but when you pay, criminal hackers will install more malicious software onto your device.

This is an example of how new trends are being targeted by criminal hackers. According to Fortinet, “The allure of quick wealth through crypto-currency seems to be enough to trick unsuspecting users to rush toward the wallet app du jour without consideration.”

In response to the growing concern over ransomware and malware, IT Governance now provides a scalable solution for staff awareness training. Our ten-minute Phishing and Ransomware – Human patch e-learning course provides an introduction to phishing and ransomware. It explains the threats that ransomware poses to organisations, and gives details of the resources available to help you understand and combat those threats. We also offer a more detailed Phishing Staff Awareness Course.

Our three-day Cyber Health Check is designed for large organisations. This includes on-site consultancy and audit, remote vulnerability assessments and an online staff survey to assess your cyber risk exposure and identify a practical route to minimise your risks. Receive a prioritised action plan for controlling your cyber risks in line with your risk appetite.

Visit our ransomware page to view all the services we offer to help your organisation combat threats.

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  1. OneCoin 28th February 2018
  2. Akeo 29th January 2019

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