Can A Blockchain Get a Virus | Blockchain Malware, Trojans, Viruses

Ledger Nano X - The secure hardware wallet
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Can A Blockchain Get a Virus | Blockchain Malware, Trojans, Viruses

Ledger Nano X - The secure hardware wallet

Welcome to this cryptocurrency video and article related to blockchain viruses, malware, and trojans. In this article we will discuss a few various aspects of cryptocurrency and blockchain technology in regards to attacks by malicious software.

Blockchain Viruses - Are they possible

Blockchain is strongly believed to be immune to viruses. A blockchain does not copy data, it is a distributed system. A blockchain is immutable and unchanging. They are designed to verify each block that gets added and must follow smart contracts precisely. Any new or bad code will not be accepted to the chain. A smart contract cannot act by itself. A user must initiate actions and pay for transactions according to the consensus being used. Each action only lasts for one block and does not affect a blockchain as a whole.

To avoid bad actoes that may be running nodes on a anetwork there are simple tools and functions that can be used to get rid of them. For simple node faults a consensus mechanism such as RAFT can be used. For nodes which act maliciously there are mechanisms that can be used such as Byzantine Fault Tolerance to remove faulty nodes from the blockchain network.

Crypto Mining Malware "Crypto Jacking"

Just because a blockchain cannot be infected by a virus at this time does not mean the crypto space is safe from attacks. A malicious code that is similar to wave audio files has infected over 80,000 computers since 2018. This malware is designed to run a crypto miner on infected devices. This type of malware campaign allows hackers to deploy CPU miners into victims devices stealing processing resources which in turn are used to generate thousands of dollars a month in mining cryptocurrencies.

This type of attack is commonly referred to as 'Crypto Jacking'. It allows the attacker to operate in the background with out the infected user knowing anything is going on. This type of malware is not directly a blockchain virus that exists on a blockchain but it is related to cryptocurrencies.

Bitcoin Ransomware

Another attack to people in the crypto space is called Bitcoin Ransomware. This type of attack is designed to infiltrate an operating system and infect the system by encrypting each file so that the original user/owner cannot access any files without permission. The attacked will demand payment in cryptocurrency in order to give access of the files back to the owner.

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