Crypto Glossary

Spyware

Spyware is a malware that records all of the activities on an electronic device.

What Is Spyware?

Spyware is a type of malware programmed to record every activity that goes on in an infected device and relay it to a snooper. Spyware’s main purpose is to track a person’s activity online and harvest as much information from them so that it can be used for the hacker’s personal gain, such as selling data to marketers or identity fraud. 

There are several types of spyware such as adware, trojans, keyloggers, tracking cookies and system monitors that perform specific functions and record a set of information without the knowledge and consent of the target. Commonly, spyware is distributed to unsuspecting users by way of infected websites, which can either be acquired via emails, random pop-up browsers or ads. Furthermore, downloading files online can also infect a device with spyware. 

Spyware is detrimental to crypto users since this malware could potentially steal their private keys, allowing hackers to steal funds. Unlike in credit or debit cards, transactions that involve stolen cryptocurrencies cannot be reversed due to blockchain’s immutable nature.

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