Bitcoin prices have begun to recover after a huge plunge driven by investors' fears of a trading crackdown.
Bitcoin, Ripple and Ethereum prices crashed after the South Korean Government announced it would impose stricter regulations on cryptocurrencies.
And Prime Minister Theresa May has also demanded tighter regulation for Bitcoin, saying it should be looked at “very seriously”.
The volatility of Bitcoin means it’s difficult to predict when the value could rise again, with prices reaching just under $20,000 before Christmas.
With so much money tied up in the cryptocurrency, it’s vitally important for investors to make sure their investment is safe and secure.
And Bitcoin owners have been given a stark warning by Malwarebytes, who have looked at the threats circling around the cryptocurrency at the moment.
The malware experts have highlighted malicious spam campaigns and banking trojans as risks to Bitcoin investors.
And Malwarebytes are advising Bitcoin owners worried about cyber criminals targeting their online wallets to keep a ‘cold storage’.
Speaking to Express.co.uk, Jovi Umawing, researcher at Malwarebytes, said: “Newcomers to Bitcoin should keep the majority of their money offline in so-called ‘cold storage’ wallets while using a second, more accessible wallet containing smaller amounts for their everyday needs.
“Don't carry all of your money around on easily lost mobile devices, and ensure all wallets are encrypted and backed up.
“They should also be wary of scams, fake apps, and malware designed to part the unwary from their coins as anyone with a lot of digital cash is a prime target for digital con-artists.”
A ‘cold’ Bitcoin wallet could be a USB, an external hard drive or even on a piece of paper stored in a secure location.
Cameron and Tyler Winklevoss, who famously fought a legal battle with Mark Zuckerburg over the ownership of Facebook, reportedly have over a billion dollars worth of Bitcoin.
They store their fortune in a ‘cold’ wallet, with their private keys written on pieces of paper that have been cut up and placed in banks around the world.
Malwarebytes researcher Jovi also highlighted the risk of cryptomining, which she said is becoming increasingly popular among scammers.
She said: “Cryptomining is becoming very popular for scammers, particularly where placing scripts on websites is concerned.
“Nowadays, it's much easier to use someone's PC to mine for coins in the background of a website without them knowing, as opposed making ransomware, hijacking a PC, and demanding a value of Bitcoins which may not even be feasible for the victim to send given the fluctuating prices.
“As traditional ransomware is declining due to a combination of improved security tools and user awareness, scammers are having to become a little more discreet than they may
The advice for Bitcoin investors comes after Malwarebytes published their Cybercrime Tactics and Techniques: 2017 State of Malware report today.
In the report, Malwarebytes pinpointed cryptomining, banking trojans and malicious spam as all threats to Bitcoin investors.
Other findings Malwarebytes found included a 882 per cent increase in spyware growth detections in the UK - higher than any other region.
The report showed sharp increases in malware-based cybercrime, including ransomware, banking trojans, spyware and adware.
Marcin Kleczynski, Malwarebytes CEO, said: “The last year has certainly thrown us a few curveballs, with massive ransomware attacks, changes in malware distribution and the significant increase in cryptocurrency miners.
“With 2018 just getting started, these findings can help pave the way for increased awareness, C-level participation, and enhanced technologies to better protect both consumers and businesses.”