Some excerpts:

Since February, Google researchers have observed two groups turning to a newer technique to infect targets with credential stealers and other forms of malware. The method, known as EtherHiding, embeds the malware in smart contracts, which are essentially apps that reside on blockchains for Ethereum and other cryptocurrencies. Two or more parties then enter into an agreement spelled out in the contract. When certain conditions are met, the apps enforce the contract terms in a way that, at least theoretically, is immutable and independent of any central authority.

• The decentralization prevents takedowns of the malicious smart contracts because the mechanisms in the blockchains bar the removal of all such contracts.
• Similarly, the immutability of the contracts prevents the removal or tampering with the malware by anyone.
• Transactions on Ethereum and several other blockchains are effectively anonymous, protecting the hackers’ identities.
• Retrieval of malware from the contracts leaves no trace of the access in event logs, providing stealth
• The attackers can update malicious payloads at anytime

Creating or modifying smart contracts typically cost less than $2 per transaction, a huge savings in terms of funds and labor over more traditional methods for delivering malware.

Layered on top of the EtherHiding Google observed was a social-engineering campaign that used recruiting for fake jobs to lure targets, many of whom were developers of cryptocurrency apps or other online services. During the screening process, candidates must perform a test demonstrating their coding or code-review skills. The files required to complete the tests are embedded with malicious code.

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