ThreatFabric, an Amsterdam-based cybersecurity company, has released a report about a new threat to the crypto community, a new virus known as the Cereberus Trojan.

According to speakCereberus is able to steal two-factor authentication codes generated by the Google Authenticator app, which are used to secure online and email banking accounts, as well as cryptocurrency accounts on some exchanges.

Cereberus was first identified in June last year but has since become a more serious threat after being updated in mid-January this year.

Once the virus is installed on a device, it is able to download all the content to a remote site, which can then be accessed by scammers and criminals.

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More seriously, among the 25 cryptocurrency exchanges, Binance and Coinbase, which are among the leading exchanges in the crypto world, were also on the list of targets of the new virus.

The virus steals two-factor authentication (2FA) codes and gives them to whoever is behind the attack.

In addition, the virus is also capable of stealing PIN codes and swipe patterns from infected devices, allowing hackers to access any content that occurs on the device.

The Cereberus virus is among the other three threats that have recently emerged targeting 26 cryptocurrency exchanges.

Other than Binance and Coinbase, Xapo, Bitpay and Wirex were also on the list of potential targets.

Fortunately, the best way to prevent a cyberattack targeting cryptocurrencies is by using a physical authentication key, rather than a digital key, that can be accessed remotely.

Explain the use of the U2F tool to protect your accounts in cryptocurrency exchanges

As the only way for a fraudster to gain access to a physical key is by physically gaining access to the device itself, which means there is much less chance of being attacked.

Security is a priority for a cryptocurrency holder:

In this article, we have highlighted the importance of taking security measures seriously.

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Especially when it comes to large amounts of cryptocurrencies, it is always advisable to keep them in an offline hardware wallet.

At the same time, it is essential to keep passphrases and private keys safe.

And one last tip: never store large amounts of cryptocurrency on exchanges and be sure to remember the common phrase “don’t own your keys, don’t own your coins.”

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