Check Point Research has recently uncovered a new type of malware called ‘Styx Stealer’, which poses a serious threat to cryptocurrency users. 

This malware, which surfaced in April, is reported to be more advanced than the older ‘Phemedrone Stealer’. It comes with enhanced features that make it particularly dangerous for those involved in digital currencies.

According to the research, Styx Stealer works by intercepting cryptocurrency transactions. When a user tries to send cryptocurrency, the malware replaces the recipient’s wallet address with the hacker’s address. As a result, the money ends up in the wrong hands. This makes it a serious risk for anyone involved in digital currencies.

Are you interested in how cybercriminals are exposed? Our latest research reveals a major OpSec fail by the Styx Stealer developer, leading to critical intel that unmasked hackers behind Styx Stealer and one of the Agent Tesla campaigns.https://t.co/yLUdOJEcjs

— Check Point Research (@_CPResearch_) August 16, 2024

The malware was initially available for rent on a website called styxcrypter.com. Users could pay $75 a month or $350 for a lifetime license. Payments could be made using various cryptocurrencies like Bitcoin and Litecoin. However, as of August 16, the website no longer lists Styx Stealer, which suggests the developer might be moving on to other projects.

Styx Stealer was discovered because the developer accidentally leaked some data during testing. This leak helped cybersecurity experts understand how the malware works. It’s estimated that in the first two months, the malware developer earned about $9,500 in cryptocurrency from their customers.

Fortunately for Windows users, those with up-to-date operating systems are protected from Styx Stealer. This is due to a patch issued last year that fixed a vulnerability in Microsoft Windows Defender, which Styx Stealer relies on to execute its attacks.

Also Read: There is a New QR Code Scam Targeting Crypto Users: Bitrace Report

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Cryptocurrency prices showed mixed trends today, with Bitcoin, Ethereum, BNB, Solana, and XRP trading slightly higher, while Toncoin, Dogecoin, Avalanche, Shiba Inu, and Polkadot traded marginally lower.

The global cryptocurrency market cap remained largely unchanged, edging up just 0.02% to around $2.07 trillion over the last 24 hours.

As of 4:17 pm IST, Bitcoin (BTC) was trading 0.15% higher at $58,428, after hitting a low of $56,161 earlier in the day. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, gained 0.04%, trading at $2,619.

This market movement came after data revealed U.S. consumer prices rebounded as expected in July, tempering expectations for a substantial rate cut by the Federal Reserve next month.The U.S. consumer price index increased 0.2% last month, after falling 0.1% in June, the Labor Department’s Bureau of Labor Statistics said. In the 12 months through July, the CPI increased 2.9%, after advancing 3% in June.Meanwhile, markets are now pricing in just a 25% chance of a 50-basis-point cut by the Federal Reserve next month, down from 55% a week ago, according to the CME FedWatch tool.”Bitcoin experienced a pullback to the $58,000 level following the release of U.S. CPI data, which indicated a price rebound in July as anticipated. This dampened hopes for a significant rate cut from the Federal Reserve next month,” said Edul Patel, CEO of Mudrex. He also noted that “geopolitical tensions between Iran and Israel further contributed to market pressure, along with significant liquidations in the crypto derivatives market.”Meanwhile, the CoinDCX Research Team observed that “there’s no specific reason for this drop. Both Bitcoin and Ethereum are moving sideways on lower time frames, with the overall market appearing choppy.” They added, “U.S. BTC ETF inflows have slowed down, and altcoins are suffering due to Bitcoin’s decline and the market’s choppy behavior.”

The volume of all stablecoins is now $68.27 billion, 93.38% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, rose to $1.153 trillion. Bitcoin’s dominance is currently 55.83%, according to CoinMarketCap. BTC volume in the last 24 hours rose 6.36% to $34.68 billion.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)