Spyware in Crypto: Protecting Digital Assets
Spyware is malicious software that records all actions on an electronic device.
What is spyware?
Spyware is a type of malicious software that is programmed to record all the activities that take place on an infected device and transmit them to an intruder. The main purpose of spyware is to track a person’s online activities and extract as much information as possible from them, which can be used by the hacker for personal purposes, such as selling data to marketers or identity fraud.
Spyware comes in several types: adware, Trojans, keyloggers, cookie trackers and system monitors that perform certain functions and record certain information without the target’s knowledge or consent.
Spyware is harmful to cryptocurrency users because it can steal their private keys, allowing hackers to steal funds. Transactions that use stolen cryptocurrencies, unlike credit or debit cards, cannot be reversed because of the immutable principle of blockchain.