The new banking Trojans also affect cryptocurrency wallets and exchanges

According to a report by the Dutch cybersecurity company ThreatFabric, hackers could use banking Trojans to target cryptocurrency exchanges and wallets in 2020.

In his report, ThreatFabric also highlighted the growing trend of these attack carriers to move from desktop platforms to crypto-wallet mobile banking services, with exchanges that would represent the next likely target.

Using Remote Access Trojans (RATs), hackers could bypass smartphone security infrastructure, allowing cybercriminals to transact directly from infected mobile devices.

Hydra and Gustuff are already in action

According to the report, hackers are already using banking Trojans such as Hydra and Gustuff to attack cryptocurrency exchanges and wallets. Using Hydra's screencast features, cybercriminals can remotely monitor real-time activity on infected mobile devices.

Hydra also allows hackers to clone the infected device, providing access to stored financial information. ThreatFabric also revealed that there are cybercriminals specializing in cryptocurrencies who are using Hydra to hack crypto wallets on platforms such as Binance, Bitfinex and Coinbase among others.

With Gustuff, hackers have access to keylogging and overlay browsers, allowing thugs to trick victims into entering their financial details on bogus websites that look a lot like real banking platforms or crypto exchanges in use by the robbed themselves.

According to ThreatFabric, Gustuff's potential target is currently expanding to include crypto wallets such as Electrum, Blockchain.com and Xapo. In addition to Hydra and Gustuff, other banking Trojans that currently target cryptocurrency exchanges and wallets include Anubis, Cerberus and the SMS Ginp hack tool.

The industry must fight cryptocurrency theft

The emergence of more sophisticated attack vectors targeting cryptocurrency exchanges and wallets will certainly create serious problems for interested parties. In recent times, exchange services have been forced to renovate their security architecture to thwart online hacker activity.

With these banking Trojans, however, the problem of security in the payment sector falls on the shoulders of smartphone manufacturers, who will have to invest in developing safer devices.

Samsung, for example, has already announced plans to include hack-proofing crypto information storage features in its Galaxy S20 series. With mobile devices equipped with integrated crypto wallets, users demand more advanced security options to avoid harmful intrusions from hackers who are reproposing these deadly banking Trojans.

Unfortunately, these new forms of attack join the already large list of threats to which users of the crypto financial sector are subject, ranging from malware clippers to malicious mining scripts all dedicated to stealing precious cryptocurrency funds.