Microsoft warns of an emerging threat targeting crypto wallets.

May 18, 2022

The tech giant revealed a new trend in stealing crypto wallet information on the internet. 

Microsoft dubbed this threat as cryware," with the attacks resulting in stolen crypto funds from wallets.

The research team said in the report that ‘’Cryware’’ collects and exfiltrate data directly from hot wallets or known as non-custodial wallets.

As hot wallets provide easier access to cryptographic keys, more and more threats are targeting them, Microsoft team revealed. 

The report further highlighted how ‘’cryware’’ attacks are different from malware and ransomware attacks.

With other types of malware, a lot depends on the attacker’s intent and usually the target has to manually transfer the funds. But with cryware, the target has no choice. 

As crypto adoption continues to grow exponentially, hackers are also coming up with different ways to attack crypto wallets.