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Bitcoin Mining is a Virtual Money

Bitcoin mining is a virtual money. When someone makes a transaction, the Bitcoin is automatically transferred to the recipient through an encrypted transaction that ensures Bitcoins can’t be hacked or created artificially. New Bitcoins are added to the market through “Bitcoin Mining” — a process where individuals run servers that handle Bitcoin transactions and get paid in Bitcoins for doing so.Camp BX, like other online Bitcoin trading sites, takes a cut of the transaction as a fee.

Proving that cyber-criminals will steal practically anything, researchers have recently identified malware designed to steal BitCoins.BitCoins are anonymous decentralized virtual currency commonly used online among people interested in keeping their transactions secret. BitCoins have generally hovered around $14 to $17 per unit.The account receiving transferred BitCoins was suspended because the server hosting it detected suspicious activity.

The mechanism for spending BitCoins is fairly simple. Users buy BitCoins with real money and keep them in their e-wallet, which is client software installed locally on the computer. When a user wants to give someone some BitCoins, they enter a cryptographic code assigned to the recipient, and the "funds" are transferred from the user's wallet to another person’s wallet via a peer-to-peer network.

Gostev analyzed Trojan.NSIS.Miner.a, which was "spreading" among Russian users. The Trojan is a malicious module packaged with the legitimate BitCoin Miner tool. Symantec and F-Secure researchers identified a different malware, called CoinBit, targeting BitCoins only a few days earlier. Having the wallet file gives the attacker full control of all the funds associated with that wallet.