Who Can Spoil the Litecoins’ Mood in the Year 2014

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Who Can Spoil the Litecoins’ Mood in the Year 2014
Who Can Spoil the Litecoins’ Mood in the Year 2014

Who Can Spoil the Litecoins’ Mood in the Year 2014

If reports are to be believed, the safer-than-Bitcoin digital currency Litecoin has found a new antagonist in the name of Trojan.BtcMine.221 – a malicious program designed to mine the digital currency. This Trojan allegedly can imitate applications and browser extensions to find lower priced goods online.

The matter was first reported by the Moscow-based organization Doctor Web which informed the Litecoin trading community about some illegal websites distributing a malware that illegally monitors about the goods users view on their browsers, while searching the same goods on the internet at lower prices. The matter gets more serious when this Trojan is also believed to mine Litecoins – a currency that is termed as the most potential digital currency of 2014. Trojan.BtcMine.221 utilizes the users’ hardware to mine this crypto-currency without their knowledge.

The statistics provided by Doctor Web further shocks the Litecoin enthusiasts with reports showing over 311,477 bots created by Trojan.BtcMine.221 infecting servers from all around the world, that too, within a short span of a year. Overall, the Trojan has infected United States with 56,576 bots, followed by Brazil with 31,567 bots, Turkey with 25,077 and Russia with 22,374. The other countries in which the Trojan has affected servers are Saudi Arabia, Spain, Portugal, Hungary, Greece, Poland, amongst others.

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The hackers are believed to have been making an average of $1,454.53 per day, by using an average hash rate of 167,647 KH/s. Likewise an IP network, the Trojan.BtcMine.221 botnet is believed to have several subnets, with each of them including around 65,000 active bots. They invade the users’ computer by imitating a computer application and use the CPU resources for mining and utilizing GPU’s.

How will it Affect Litecoins?

Litecoins have made some positive notions about itself after being named as the best Bitcoin alternative. The currency is also marketed as more secure than Bitcoins. Although, the security lapses with Bitcoins have been talked about a lot, but Litecoins have always maintained a safe spot. If any solution to this Trojan is not found, then traders might lose their interest in this new alt-currency.

Please keep reading this section to follow the news to its core.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com