Is Avast taking the lead in safeguarding crypto-wallets?

Is Avast taking the lead in safeguarding crypto-wallets?

Horace C. White 

Modern Tokyo Times

Within One Year, Avast Safeguarded Over 253,000 Cryptowallets

For many crypto-asset investors out there, seeing their digital currencies in tact is all that matters. Indeed, they tend to pay less attention to who does what to shield their coins from unscrupulous elements all over the cyberspace. Well, one such cybersecurity firms walking round the clock to keep the information superhighway secure is Avast Software s.r.o. Without a doubt, if you are crypto-asset trader, you have probably heard of Avast by now. Much as the name of the firm rings a bell, you may be oblivious of the fact that the Prague-based cybersecurity firm has done so much in an effort to keep the global crypto community safe. First and foremost, meet the firm.

Welcome to Avast

Popular for developing antimalware software Avast with over 435 million active users around the world, Avast Software s.r.o is a cybersecurity software development company that focuses on researching, engineering and delivering software solutions. Today, the firm has expanded into machine learning and artificial intelligence (AI).

Avast is reputed for controlling the largest market share in the SaaS space. In fact, its 33+ experience in the industry has seen the software company protect unsuspecting Internet users from the machinations of hackers who continuously steal people’s classified and financial information. Given that Avast knows its onions in the cybersecurity space, its antimalware is the most popular in the world.

Any Success thus Far?

Sure, there is! A team of researchers at Avast have announced that the cybersecurity firm has protected over 253,000 users from a deadly ransomware known as Clipsa. In a blog post on its official website, Avast noted that Clipsa is a password-stealing malware that attacks the administrators of WordPress, stealing their login credentials from the clipboards. After pilfering the password, the ransomware can then go ahead to execute other malicious operations, such as transferring the cryptos and installing a miner. To achieve its mission, Clipsa crawls the Internet from affected devices in search of vulnerable WordPress sites. Whenever the virus takes over a PC, the users would often notice that the operating system becomes slow. This is usually the case as Clipsa – which is written in Visual Basic – will perform lots of other activities from there, including mining cryptocurrencies. Cybercriminals also deploy XMRig, crypto (XMR) CPU miner, alongside the virus to harvest more coins from unsuspecting users.

Official Statement

Jan Rubin, antimalware researcher at Avast, released a press statement to give insights into their team’s effort to secure the global virtual currency community. Rubin pointed out that Clipsa, which spreads like an executable file, attacks mainly cryptowallets in order to secretly pilfer their passwords. In a blog post, the cybersecurity expert noted that hackers attach Clipsa to PCs to continuously search for vulnerable WordPress websites. Upon discovering a vulnerable site, the ransomware will “brute-force their credentials,” the statement noted. The post disclosed that so far India is the major target of virus, saying that the software development firm has blocked over 43,000 Clipsa attempts on over 28,000 users in the Asian country. Other countries on Avast high-alert-risk list, the statement revealed, are the Philippines, where it safeguarded over 15,000 users, and Brazil, where it successfully repelled attacks on 13,000 users. Explaining further, the cybersecurity firm stated that it has been able to shield no fewer than 253,000 users, possibly, taking the lead in helping to secure crypto-wallets.

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