Fake SpriteCoin Cryptocurrency Spreading Ransomware & Spyware

SpriteCoin Cryptocurrency

Cyber security analysts have reported a new strain of file-encoder virus which tries to trick inexperienced computer users into downloading a new cryptocurrency which claims to be a profitable coin. According to the malware researcher of a reputed security firm, the malware masks itself as a ‘SpriteCoin cryptocurrency’ which has been promoted on a various forums as a new virtual currency. However, it is just a fake cryptocurrency which attempts to lure web surfers into downloading its wallet. This so-called new virtual currency is written entirely in JavaScript programming language.

When a computer user download and run the executable file of SpriteCoin cryptocurrency, they are prompted to enter the wallet password. After that, they were notified that this .exe file is downloading a blockchain on their machine. However, instead of doing this, it actually drops a ransomware virus which is secretly busy in encoding the files stored on their computer. During the file encryption procedure, the malware also steals login credentials that were saved on popular web browsers like Mozilla Firefox and Google Chrome installed on victims’ PC. With the help of embedded SQLite engine, it records confidential data and deliver it to the TOR website operated by cyber criminals through POST requests.

Later, the ransomware responsible for encoding system’s files displays a ransom note which demands 0.3 Monero approximately equal to 93 USD or 66 EURO (based on the current exchange rate) from the victimized users to get a decryption tool needed for file recovery. In its displayed ransom notification, the cyber extortionists behind spreading ransomware virus through SpriteCoin cryptocurrency provides complete details on Monero and payment instructions as well. Most importantly, the affected users who wants to pay asked ransom fee will receive a decryptor that have equipped with a malicious executable of a Trojan named W32/Generic!tr.

SpriteCoin Cryptocurrency

Based on the research report, this additional malware has the ability to perform various harmful activities onto system device which leaves the victimized users more compromised as compare to the previous ransomware attack. In this cyber attack, security analysts believe that the main purpose was not just stealing confidential information or demanding ransom fee to get benefited illegally, but the new malware distribution mechanism to check how many users would fall for it. This is very similar to the one when con artists would test their newly developed malicious creation to see how fast or effective the threat would spread all across the world before its real launching.

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In order to obtain higher success rate, the criminals hackers behind the attack of such ransomware and Trojan virus delivering with the help of SpriteCoin cryptocurrency have done their homework quite effectively. Threat actors understand that most of the system users do not back up their important files or data at a regular interval of time, so they are continuously developing the new file-encoder threats and propagate them using different tactics. However, if the computer user have a updated backup or Shadow Volume copies maintained on their PC, then they have logic built into defeating dangerous ransomware virus. Meanwhile, a simple offline backup of crucial system files can also help to recover from such virus attack and will help you save lot of time.