A new type of ransomware tries to bait people around the world. It’s a fake cryptocurrency that bait victims with the idea of making money easily. As a result of the cryptocurrencies, here arrives a fake cryptocurrency which names is SpriteCoin. This currency is announced many online forums as the newly mined cryptocurrency by cybercrime. It is advertised as the most profitable cryptocurrency. Which attracts cryptocurrency enthusiasts to install the cryptocurrency wallet software to buy this coin. Once if it installed on your computer, the malware encrypts your hole computer files. Then asks for the ransom to decrypt the files.

If you pay 0.3 Monero i.e. currently $97, Social engineers send another malware instead of the decryption key. The malware can parsing images, harvesting certificates and controlling your webcam.

How Does SpriteCoin Work?

Creating SpriteCoin is not an easy task. Though there are different ransomware that use email phishing as the medium of infection. This currency acts like a cryptocurrency wallet app that pretends to contain the SpriteCoin. It’s an old trick to bait victims.

How Does The Process Begin?

The user sets a password for cryptocurrency wallet. The ransomware encrypts all the files and folders. The malware infects the system when the completes the process. Your Firefox and Chrome’s stores are also attacked and sent to the attackers. The computer’s screen displays a message which asks the user for a pay to decrypt the files. The message also displays information about the cryptocurrency Monero, where to buy it, and procedure to pay the ransom. Attackers also warn victims that deleting or uninstalling the malware will keep the files decrypted forever.

Other ransomware attackers are shifting to cryptocurrencies instead of Bitcoin due to issues in Bitcoinpayments. We can say that Spritecoin is just the tip of the iceberg!