Digital currency company E-Gold was recently indicted on charges of money laundering and illegal money transmitting. In a statement released by the US Department of Justice, the indictment “alleges that E-Gold has been a highly favored method of payment by operators of investment scams, credit card and identity fraud, and sellers of online child pornography.” Such activities may be attributed to the fact that it is easy to set up an E-Gold account (one only needs to provide a valid email address), and that it can facilitate anonymous transactions via the Internet.
This piece of news is interesting because there have been instances wherein cyber-criminals use E-Gold to aid/facilitate their malicious activities. Apart from the fact that there is a spyware family that attempts to steal E-Gold credentials (TSPY_GOLDUN), ransomware such as TROJ_CRYZIP.A also used the said service to ask affected users for a, well, ransom for their “hostaged” files. And to think these are just examples of threats that use the service as a form of payload… What about those that use it to finance more sophisticated attacks?
Read the Department of Justice’s full statement here.