Should Future Malware Threats Trouble Blockchain Users?

Mar 30, 2015
Blockchain Malware

Blockchain Malware

The blockchain technology will no longer be the medium for digital currency transactions, but it may also be the channel for malware, abusive content, and other forms of cyber threats, according to the recent Kaspersky report.

A team of INTERPOL cyber threat researchers consisting of a Kaspersky Lab expert discovered that cryptocurrency blockchains have the potential to become the instrument used by online hackers or attackers via the extra space allotted within every transaction.

At present, transactions may come with messages or notes, and this activity is not new within the system. Nevertheless, the researchers believed everyone should be alerted about the possibilities of the spread of malicious content.

The report stated:

“The design of the blockchain means there is the possibility of malware being injected and permanently hosted with no methods currently available to wipe this data.”

The malware described in the Kaspersky report pertains to malicious codes or even child abuse images, which the group believes to have high chances of propagating through the existing blockchains in the future.

Kaspersky LabAre such threats new?

This report received the flak from some bitcoiners for several reasons, even calling it old news.

For one, there were already reported incidents of finding child abuse images in the blockchain, as well as hashed and compressed images. This report, therefore, prompted some users to believe whether or not Kaspersky was a little too late to realize this.

What may trouble the cryptocurrency community, though, are the chances for the private keys to be manipulated for such illicit activities.

Although the findings pointed to the future threats that may inflict damage on multitude of users on a global scale, there are no cases of progress or incidents related to this that are yet to be reported.

Will this affect the Bitcoin casino players too?

The truth is, everyone operating on the blockchain, including the Bitcoin casino market, will be affected should there be a mass spread of malware or damaging scripts. After all, online casinos and betting platforms may attract attackers due to the stored funds of their customers.

This is the reason players and operators should take extra precaution. However, the most important point to remember is that these cyber threats are not yet prevalent in the system and that the team of researchers simply wanted to inform the public that cryptocurreny blockchains can one day become the source of problems.

Regardless, bettors can continue to wager on the Bitcoin casino games today and gambling sites should exert more effort in ensuring that their safety, especially funds, will not be compromised at any cost.