Kaspersky warns cryptocurrency macOS users to be careful, avoid suspicious sites and use trusted cybersecurity solutions. This comes after a researcher questioned the ultimate role of AI, emphasizing human intelligence, basic cybersecurity and awareness. Systematic Alpha Management CEO Peter Kambolin has been sentenced to two years in prison for orchestrating a cryptocurrency scam.
Kaspersky researchers have detected newly identified malware circulating in Apple’s Mac ecosystem. This threat is executed through pirated applications and its specific goal is to compromise the digital wallets of macOS users who own cryptocurrencies.
Researchers discovered a “family” of new proxy Trojans in December. The hackers were compromising, or “cracking,” legitimate applications that users were downloading from unauthorized sources along with malware.
In a recent statement, Kaspersky Researchers warn that Mac users should be extra alert when downloading content from websites, especially those that store cryptocurrencies in digital wallets:
“Users should be extra cautious, especially with their cryptocurrency wallets. Avoid downloads from suspicious sites and use trusted cybersecurity solutions for better protection.”
Furthermore, he noted that this particular malware targets users running macOS versions 13.6 and above.
Upon download, the malicious script scans the Mac for cryptocurrency wallet applications and replaces them with its own infected version.
The Cherry-Picking Cryptocurrency Scam
US authorities have sentenced the CEO of an investment company to prison for orchestrating a cryptocurrency scam. In the cryptocurrency scam, known as “cherry picking,” he collected funds from investors for trading, but only then decided whether to allocate the operations to investors or to himself based on their profitability.
According to a statement issued by the United States Department of Justice (DoJ), Peter Kambolin, CEO of Systematic Alpha Management, was sentenced to two years in prison for allegedly leading a cryptocurrency scam known as cherry picking.
“During the relevant period, Kambolin executed trading for pool participants along with trading he executed on behalf of his own accounts, and fraudulently allocated trading profits and losses to benefit his own accounts.”
Cherry-picking is a fraudulent scheme in which a person executes trades without attributing them to a specific trading account. This is not done until the individual determines whether the trade has been profitable or has suffered losses.
However, Kambolin effectively monitored the performance of all trades throughout the day, selectively retaining the most profitable crypto trades for itself. Meanwhile, this allowed him to enjoy the benefits of risk-free trading, while his investors experienced losses.
Kambolin used the profits from the scam to finance his personal expenses. This included renting a beachfront apartment. In addition, he transferred the profits to foreign bank accounts that his partner controlled in Belarus and Dominica.
Meanwhile, a recent report from Chainalysis reveals that the majority of crypto scams last year were carried out through the use of stablecoins. However, it notes that cryptocurrency scams decreased significantly last year, with a total decrease in illicit income of 29.2%.
Cybersecurity Companies Face More Sophisticated Hackers
As technology advances, cybersecurity companies face the challenge of improving the security of both companies and individuals. Additionally, to combat more sophisticated hackers and scammers.
In August 2023, a researcher expressed skepticism about artificial intelligence (AI). Especially, that it is the definitive solution to improve cybersecurity. According to the researcher, human intelligence can be just as effective. Indeed, the crucial factor in improving security lies in promoting basic cyber capabilities. It emphasizes that educating employees about managing strong passwords and how to avoid clicking on malicious links is the main line of defense.
By Leonardo Perez
