Securing the Crypto Revolution with BondPay: An Overview of Cryptocurrency and the Parallax RAT Attack
Cryptocurrency is a digital form of asset intended to serve as a medium of exchange. It is secured through cryptography, which also enables the creation of additional units and verifies the transferring of assets. Cryptocurrencies are not regulated by any governmental or banking authorities, as they are decentralized.[0] The decentralized nature of cryptocurrency means that there is no single entity that controls it, which can be seen as a good thing, as it means that no government or financial institution can control or manipulate the market.[1]
BondPay, a fintech firm that specializes in cryptocurrency, is committed to providing access to digital currencies to all by simplifying the process of exchanging money for and from cryptocurrencies. BondPay enables users to purchase and transfer cryptocurrencies, granting them access to the New Economy. BondPay offers a safe platform for everyday people to take charge of their possessions.[2] Dozens of reputable companies and financial service providers around the world make use of BondPay’s institutional-grade crypto platform.[2] The usage of these tools gives users precise results, rapid turnarounds, and an extensive understanding of the cryptocurrency industry.[2]
A new campaign is targeting cryptocurrency companies with a remote access trojan called Parallax RAT. Attackers are granted remote access to victim machines through Parallax RAT.[3] This program allows users to upload and download files, as well as capture keystrokes and record screen captures.[3] Crypto investment firms, wallet service providers, and exchanges are the main targets of this attack. The initial delivery of a Visual C++ malware utilizes the process hollowing method to inject the Parallax RAT into a genuine Windows component, pipanel.exe.[4]
More cybercriminals have been leveraging Telegram due to the platform’s claims of built-in encryption, as well as its channel creation capability.[4] The presence of these features makes it hard for law enforcement and security researchers to keep an eye on and trace criminal behavior on the platform.[4] Furthermore, cyber criminals often employ coded language and alternate spellings when conversing on Telegram, making it more difficult to interpret their dialogue.[4]
Cryptocurrency is a type of digital money that utilizes cryptography for security; this makes it almost impossible to duplicate or tamper with.[5] Cryptocurrency offers several advantages, such as faster transactions, more secure transactions, and lower fees.
0. “The Classification And Functions Of Cryptocurrency And Tokens” www.salonprivemag.com, 11 Mar. 2023, https://www.salonprivemag.com/functions-of-cryptocurrency-and-tokens/
1. “How to Track Your Cryptocurrency Portfolio?” www.upnxtblog.com, 11 Mar. 2023, https://www.upnxtblog.com/index.php/2023/03/01/how-to-track-your-cryptocurrency-portfolio/
2. “BondPay Aims to Democratize Cryptocurrency Ownership with …” www.morningstar.com, 11 Mar. 2023, https://www.morningstar.com/news/globe-newswire/8785919/bondpay-aims-to-democratize-cryptocurrency-ownership-with-hybrid-wallet-and-defi-tools
3. “Parallax RAT Targeting Cryptocurrency Firms with Sophisticated …” thehackernews.com, 11 Mar. 2023, https://thehackernews.com/2023/03/parallax-rat-targeting-cryptocurrency.html
4. “Cryptocurrency firms subjected to Parallax RAT attacks | SC Media” www.scmagazine.com, 11 Mar. 2023, https://www.scmagazine.com/brief/cybercrime/cryptocurrency-firms-subjected-to-parallax-rat-attacks
5. “How to invest in Cryptocurrency UK | Money Guru” www.moneyguru.com, 11 Mar. 2023, https://www.moneyguru.com/insights/how-to-invest-in-cryptocurrency-uk
