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Bitcoin Stealing Trojan On The Loose, User Reports Loss Of 25,000 Bitcoins

A new Trojan has emerged, built specifically for targeting Bitcoin wallets and steal all the funds within, security firm Symantec warns.

It seems the Trojan, dubbed Infostealer.Coinbit, looks for the wallet.dat file carrying all your Bitcoin virtual currency, in your system, finds it, and then emails it to the attacker.

Bitcoin, which came into existence almost a couple of years back in 2009 - thanks to the innovative and “geeky” mind of Satoshi Nakamoto, is a peer-to-peer, encrypted currency that functions as an alternate resource of all government controlled currencies.

Users can purchase services and goods digitally using this currency. Its value has undergone tremendous growth recently, and reached as high as £19 ($30) per Bitcoin on a few online exchanges.

Earlier in the week, a Bitcoin user reportedly lost near about 25,000 Bitcoins, which is equivalent to almost $500,000, during a hack attack.

"We expect that code... will find a way into other malware, considering the amount of attention this sort of attack is currently receiving and with the amount of Bitcoins currently available for purchase," Symantec wrote in a blog post (opens in new tab).

Adding more worries to the users of this virtual currency, many experts have revealed that once lost, it’s almost impossible to track the stolen Bitcoin wallet, let alone getting it back.

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.