WanaCrypFake, a strain of ransomware that attacks user’s files was on a top bulletin in the past as malicious software, especially in the crypto industry. However, a Cybersecurity firm Emsisoft recently announced that they released a solution to this bug.

Thanks to Emisisoft software firm for releasing a bug fix for the bitcoin-demanding ransomware WannaCryFake. Essentially, this software is the next version of the WannaCrypto worm which first began attacking user’s computer networks in May 2017.  However, the report reveals these types of attacks surged by 118 percent this year.

Accordingly, such software first attack user’s computer and the data is held hostage and then infected victims will be demanded to pay for decryption in bitcoins. The malicious software further urged users to pay in bitcoins at earliest and upon receiving the bitcoins, the software claims that it will send the tool to the infected victim to decrypt all their files.

The infected victim will receive the following message as soon as their files are encrypted by such software with a quick guide on how should they pay for decryptions in bitcoin.

Image source – bleepstatic

To protect users from paying bitcoins in ransom and importantly to decrypt the encrypted files, Emsisoft released a free software which will help infected victims to recover encrypted files. Notably, it also secures the data and helps users decrypt the files without any data loss.

In addition, Malware warns users not to use third-party applications to decrypt their files;

“Decryption of your files with the help of third parties may cause increased price (they add their fee to our) or you can become a victim of a scam.”

Conclusively, WannaCryptoFake Bitcoin Ransoming Malware is yet another potential tool that bad market players consider to leverage the benefit from bitcoin.

Image Source – Flickr.com

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like
Tokenlon DEX Launches Token Based Market Maker Program

Tokenlon DEX Launches Token Based Market Maker Program

On September 30, 2020, Tokenlon announced that it would launch a new…

Philippine Boxing Champion Launches World’s first Celebrity Cryptocurrency

Photo Credit To Andrew Zhang Via Flickr Manny Pacquiao, a Philippine boxing Championship…
bitcoin price

Ethereum, XRP, & Bitcoin Price Analysis

Over the last week, most of the top large-cap cryptocurrencies have seen…

Taxes On Cryptocurrency: Ways To Manage And Potentially Reduce Your Crypto Tax

Photo Credit To Crypto News Daily Via Flickr The IRS has been…

China Seizes 6,890 Crypto Mining Rigs

A report by a Chinese state media outlet claims that authorities in China have…

Deloitte experiments Bitcoin in its canteen but the team may take it otherwise

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a network…
Voyager Digital Announces Assets Under Management Have Grown 20X YTD

Voyager Digital Grows Assets Under Management 20X YTD

Voyager Digital, a licensed crypto-asset broker, has announced that assets under management…

Deutsche Bank Outlines Crypto Replacing Fiat by 2030 Due To Weak Existing Fiat System

Deutsche Bank, the German-based banking giant, recently issued a report dubbed “Imagine…

Swiss Financial Regulators Change Their Stance Towards Facebook Libra Developments

According to a Bloomberg report, Swiss financial regulators are expressing doubt over Facebook…

Attackers Demand $1 Million Ransom In Bitcoin From Council Owned Company In The UK

Hackers recently sent a ransom note to Kent Commercial Services, a company…