In the cryptocurrency world, there are dozens of applications looking to steal funds or defraud users in different ways. That in itself shows the industry is still attracting a lot of attention, even though it is not necessarily for the right reasons. A new “free crypto trading bot” is making the rounds, yet it will infect target devices with a Trojan Horse.

Never Trust Free Trading Bots on YouTube

As the bearish cryptocurrency market seemingly comes to an end right now, it would appear the overall interest in trading assets is rising again. A lot of users would prefer to do so in an automated manner. When prices of cryptocurrencies, tokens, and assets rise, it would appear there is also an increase in trading bot popularity. This has become a new industry for criminals to target as of late, by the look of things.

More specifically, a new GitHub repository has been discovered which seemingly offers access to a free trading bot. Although there are a fair few bots out there which do not require a monthly subscription fee or something along those lines, this one appears to be designed to cause harm first and foremost. The accompanying YouTube video claims it supports Binance, Cryptopia, and Bittrex at this time.

 A @Github user “h0lend9r” is hosting trojans targetting #cryptocurrency users – contacting vaivaijija[.]myjino[.]ru to be commanded to start new tasks (exe’s hosted on @Github – ufil/ProyectoEPED and h0lend9r/bdd)

cc: @0x736A

— Harry ◊ (@sniko_) February 9, 2019

That in itself is a very remarkable development, considering how Cryptopia is shut down indefinitely. Additionally, it seems there are plenty of other options to automate trading on Binance or Bittrex these days. That in itself shows the person responsible for this video hasn’t necessarily put it too much effort in doing some research.

Even so, it is very likely this project would have gotten a lot of attention from novice cryptocurrency users. A lot of people want to make money with as little effort as possible. One user noted this GitHub repository isn’t home to just a trading bot, but rather an application designed to spread Trojan Horses to unsuspecting devices. The full impact of these Trojans remains a bit unclear at this time, yet it would appear best to effectively ignore this particular repository and seek trading bots elsewhere.

As has been the case in years prior, efforts like these usually serve one of two specific purposes. Either they try to obtain wallet.dat files installed on the infected device and try to steal Bitcoin or altcoins in the process. The second option is to hijack login credentials from a browser session and empty users’ exchange accounts. Which method was designed to be used here, remains unclear. It is known the repository will log user IPs, but the exact purpose of this information remains to be determined.

For the time being, it does not appear as if anyone has effectively downloaded and installed this fake free trading bot. That in itself is positive news, although it remains to be seen what the future will hold in this regard. It is unlikely this will be the last attempt to defraud cryptocurrency users with a “free bot”, as the search for such tools is still intensifying. Rest assured criminals will continue to look for ways to make money off of unsuspecting cryptocurrency users by any means necessary.


You may be interested

Elon Musk
shares10 views

‘Tesla Blows’: Elon Musk’s Joke Haunts Him in Mind-Numbing Q1 Miss

Brian Evans - Apr 25, 2019

By CCN: Tesla’s first-quarter earnings miss was about the size of the Grand Canyon. Yet, investors are not punishing Tesla’s stock. Far from it, in fact, as…

shares7 views

Samsung Invests $2.9 Million Into Crypto Wallet Startup Ledger

Brian Evans - Apr 25, 2019

Electronics giant Samsung invested 2.6 million euro in hardware crypto security firm Ledger

Altcoin News
shares9 views

Rock Star Litecoin: Charlie Lee Rails Against S**t Coins and Scam Coins

Brian Evans - Apr 25, 2019

By CCN: It’s not easy being Charlie Lee. It’s no secret the Litecoin creator has had to deal with a crypto community that hasn’t gotten over his…

Most from this category

shares9 views
shares15 views
%d bloggers like this: