Still got Bitcoin? Protect it from malware, experts warn

Businesses considering accepting Bitcoins or other forms of cryptocurrency should be prepared to battle a rising number of malware aimed at emptying digital wallets.

Thats the takeaway from a new study by SecureWorks, computer maker Dells security unit. Researchers found that the number of malware targeted at stealing cryptocurrency from Windows PCs increased along with the rise in value of Bitcoin since the beginning of 2013.

As of January of this year, SecureWorks had identified on the Internet 100 unique families of malware capable of stealing wallet files or digital currency from users exchange accounts. The increase in the number of cryptocurrency-stealing malware made it one of the fastest-growing categories of malware, the study said.

While Bitcoin is not the only type of cryptocurrency, it is the most popular and the most valuable. The price has ranged from a high of roughly $1150 in early December to a low of $420 on February 25. Bitcoins price on Thursday was about $565. Other digital currencies include Namecoin, Litecoin, Dogecoin, PPCoin, and Mastercoin.

The recent shutdown of Mt. Gox, which once had the largest market share of all digital currency exchanges, highlights the risk of cryptocurrency traded over the Internet. The Bitcoin exchange closed this month after cybercriminals stole $400 million. The heist is under investigation by U.S. federal authorities.

The rising popularity of digital currency has led to its adoption by retailers. Overstock.com became the first major online retailer to accept Bitcoins, and industry observers expect others to follow. The site SpendBitcoins lists many places on the web where people can spend their digital currency.

To protect the digital wallets used in conducting transactions, SecureWorks researchers recommend the use of a split wallet, which has a portion of the file on the computer connected to the Internet and the rest on a system with no network connection.

The file kept on the Internet-enabled system would let the business track its running balance and perform transactions with customers. On the offline system is the private key for authorizing a transaction before it is transmitted.

Electrum is an example of a split wallet done through software. Examples of hardware-based products include Hardware Wallet and Trezor, which plans to release its product soon.

By using the proper security, businesses can significantly reduce the risk of accepting digital currency, Pat Litke, security researcher for Dell SecureWorks Counter Threat Unit, said.

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Still got Bitcoin? Protect it from malware, experts warn

WikiLeaks Cables Foreshadow Russian Instigation of Ukrainian Military Action

Now that Russia has sent troops to seize the Crimean Peninsula, international politics are tense and frantic. An anonymous reader notes an article from Joshua Keating at Slate, which points out that some of the diplomatic cables on WikiLeaks illustrate how this situation is not at all unexpected. Quoting a cable from October, 2009: "... pro-Russian forces in Crimea, acting with funding and direction from Moscow, have systematically attempted to increase communal tensions in Crimea in the two years since the Orange Revolution. They have done so by cynically fanning ethnic Russian chauvinism towards Crimean Tatars and ethnic Ukrainians, through manipulation of issues like the status of the Russian language, NATO, and an alleged Tatar threat to 'Slavs,' in a deliberate effort to destabilize Crimea, weaken Ukraine, and prevent Ukraine's movement west into institutions like NATO and the EU." The article points out another cable from a few days later, which was titled, "Ukraine-Russia: Is Military Conflict No Longer Unthinkable?"

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WikiLeaks Cables Foreshadow Russian Instigation of Ukrainian Military Action