BitPay issues warning about Bitcoin trading Trojan

Bitcoin users must remain vigilant when using their wallets and completing payments. A recent announcement from BitPay revealed that a Trojan called Coinbitclip has compromised the exchange’s systems.

Coinbitclip can change user transaction details

When users make a Bitcoin transaction, most people tend to use the clipboard service on their device to fill in the recipient address. For computer users, ctrl+c and ctrl+v are common shortcuts because nothing is more convenient than copying and pasting text information.

But this is also where users have to be careful these days. Because a new Trojan called Coinbitclip is eyeing the clipboard. For example, when a Bitcoin user copies and pastes a Bitcoin address, the Trojan will change the address to the attacker's address.   Often, the two addresses will look very similar, and by the time the user realizes, it's too late.

It is worth noting that this Trojan has not yet compromised any Bitcoin wallets or payment systems at the time of writing, and it appears to be targeting individual Windows users only. Similar to the spread of most ransomware, Coinbitclip has begun to infect computers using electronic attachments and malware.

Coinbitclip has not gone unnoticed. Symantec has developed a comprehensive action plan, and as the saying goes, prevention is better than cure, users can take steps to prevent it in advance. Symantec recommends users to block public incoming connection services.

Additionally, computers used by multiple family members may need to be reconfigured to ensure that only essential tasks are allowed on the system.

Bitcoin users should be careful about the Bitcoin addresses they send funds to. Although manually entering letters and numbers is annoying, losing funds is even more frustrating. Therefore, precautions must be taken to ensure that funds go where they are supposed to go.

Removing Coinbitclip is not difficult, but there seems to be no one-size-fits-all solution. Norton Power Eraser may work, but it does not remove all infections. Some users may need to restore a backup system, while others may need to reinstall Windows.