Categories: CryptoNews

Fantom Ransomware Disguises Itself As A Critical Windows Update

For those people who were wondering whether or not criminals would run out of ideas to create new types of ransomware, have no fear. Fantom, a new type of malware, disguises itself as a critical Windows update. But under the hood, this piece of software will do all types of harm to one’s computer, and decrypt all files in the process.

Fantom Is Not Your Average Critical Windows Update

Newer types of ransomware seem to pop up on a regular basis, and the season is far from over. Factom has recently been making the rounds and was first brought to people’s attention thanks to Sophos. While this is a ransomware type, it is not as potent compared to other versions of this malware.

According to the Sophos blog post, Fantom is not well-written. Nor has it been spread on a large scale just yet either. But that does not mean one should overlook this new malware, as it can cause significant harm to an infected device. Then again, its success may hinge on how well it can convince users into tricking this is a legitimate threat.

For those users who end up infected with Fantom, however, trouble will start brewing relatively quickly. If given the chance, it will work just as advertised. Files on the device will be encrypted, and users will need to pay a Bitcoin fee to restore access. This is the standard modus operandi among ransomware families these days.

Related Post

What is rather worrisome is how Fantom, despite its horrible English and lack of convincing skills, has been created using a publicly available framework.Criminals no longer need to have much programming knowledge to create new types of malware. For now, it is anybody’s guess as to what one should look out for to deal with this infection.

By disguising the malware as a critical Windows update the Fantom developers have increased their chances for success. However, everyone should be aware of how Windows Updates are never available in the form of executable files. Avoiding that filetype altogether should ensure no one ever needs to deal with Fantom ransomware moving forward.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Ondo Facilitates Big Banks’ Connection to Blockchain in Historic Settlement

A crucial development is taking place at the intersection of legacy finance and blockchain as…

4 hours ago

Morgan Stanley Adds Crypto Trading To E*Trade With Aiming Millions Of Retail Investors

Morgan Stanley is taking a big step into digital assets space with the launch of…

4 hours ago

Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce

Coinbase is about to undergo one of its largest structural reorganisations in some time, with…

14 hours ago

$150M Crypto Ponzi Scheme Crumbles, Forming Global Fraud Network As Investigators Freeze $41.5M

The suspicious DSJ Exchange (DSJEX) and BG Wealth Sharing scheme, now confirmed a Ponzi operation,…

14 hours ago

BlackRock And Fidelity Lead $532 Million In Institutional Bitcoin ETF Inflows As Demand Soars Following Ceasefire

Demand from institutions is heating up again, with U.S. spot Bitcoin ETFs logging a tally…

1 day ago

Western Union Launches USDPT Stablecoin on Solana to Transform Global Payments Infrastructure

Western Union expands its participation in the digital asset ecosystem with USDPT, a Solana native…

2 days ago