Necurs botnet distributed spam pushing Swisscoin cryptocurrency

17 Jan 2018

Necurs, one of the largest known spam bot, distributed spam emails promoting an ill repute cryptocurrency named Swisscoin, reported BleepingComputer. The well-known pump & dump strategy usually used for manipulating stocks of companies has been applied in cryptocurrency environment on large scale for the first time. The actual impact is hard to measure because the first spam emails were distributed on the same day the Swisscoin currency was released for trading after more than 50 days of suspension period. The pump & dump manipulations of cryptocurrencies are not new. For example Business Insider wrote about pump & dump cryptocurrency market manipulations in November 2017.

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The digital currencies story is a continuation of the long-running saga of economics, markets, and commodity exchange in human society. With the constant rise of the global network, we have witnessed many global services becoming widely accepted and in a way changing (by adding to) our experience of mutual interaction.

Cybercrime is crime committed via the Internet and computer systems. One category of cybercrimes are those affecting the confidentiality, integrity and availability of data and computer systems; they include: unauthorised access to computer systems, illegal interception of data transmissions, data interference (damaging, deletion, deterioration, alteration of suppression of data), system interf

Spam or unsolicited mail is sent to a wide number of Internet users. Spam is mainly used for commercial promotion. Its other uses include social activism, political campaigning, and the distribution of pornographic materials.

 

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