Click here

Coinbit

Coinbit is a Trojan horse designed to steal users' Bitcoin wallets. Coinbit targets Windows computers by homing in on the standard file location for a Bitcoin wallet before e-mailing the wallet to an address designated by the creator of the malware. The malware 's full name is Infostealer.Coinbit, and it was first discovered in the wild in June 2011.

Bitcoin is a popular decentralized virtual currency exchanged peer to peer and earned by users through the process of mining, or contributing a computer's CPU cycles to mathematically generating new Bitcoin. Bitcoin wallets can be encrypted, which can help prevent Trojans like Coinbit from using brute force to open a wallet, especially when strong passwords are used.

Coinbit


Top Terms
  • 1

    Consumerization of IT

    Consumerization of IT is a phrase used to describe the cycle of information technology (IT) emerging in the consumer market then spreading to...

    Read more »

  • 2

    ERP - Enterprise Resource Planning

    Short for enterprise resource planning, ERP is business management software that allows an organization to use a system of integrated applications...

    Read more »

  • Click Here!

Connect with Webopedia

Did You Know? Archive »

  • Quick Reference Archive »