Impossible for Signature-Based AV to Detectīesides deployment, the execution process of these crypters is also becoming more sophisticated. To make malware delivery easier, attackers are now also leveraging distributed application architecture to centralize delivery. The variety of sites and applications being used as decoys has also grown, with more communities being targeted. While this methodology hasn't changed since our discovery of the BABADEDA Crypter in 2021, message bots have developed advanced phishing capabilities in the latest iterations of its attack chain. These bots direct users to decoy websites where they are prompted to download malicious desktop applications. The evolved crypters observed by Morphisec in the new campaign continue to be delivered through malicious Discord bots operating within NFT and crypto communities. Here is a snapshot of what we discovered. Our new report, “ Journey of a Crypto Scammer - NFT-001”, covers these findings in detail. Since then, we have gone beyond the Babadeda Crypter to uncover the motivations, infrastructure, and activities of one of the most dangerous and fast-developing threat actor campaigns targeting this sector - and how to stop them with Moving Target Defense. Last year, Morphisec’s Research Team encountered and fully disclosed the inner workings behind the Babadeda Crypter, a dynamic new threat aimed at blockchain investors on the Discord app. Using investor interest in NFTs and cryptocurrency as an entry point for phishing attacks, cybercriminals are increasingly deploying credential-stealing malware to hijack crypto accounts and steal cryptocurrencies and other digital assets. Unfortunately, threat actors have not missed this growth, and malicious activity within the NFT investment space is surging. This means that regardless of whether you think NFTs are just "expensive jpegs" or a future-focused investment, interest in NFTs is rocketing and likely to keep growing, with some forecasts putting the NFT market at $80 billion by 2025. And as rock stars, international artists, and even politicians keep "minting" non-fungible tokens (NFTs) and investors keep rushing in to buy them, the NFT space has undergone exponential growth.Īs of January this year, the NFT market is worth at least $4 billion - up from around $250 million in 2020 (the year when NFTs first came to public attention). With examples changing hands for up to $69 million, hosting digital content on blockchain and selling it to investors has become one of the most lucrative things creators can do.
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