A recent surge of unknown malicious software has been aiming at gamers, siphoning off their Bitcoin (BTC) holdings in a fresh data theft operation that also focuses on cheaters.

According to vx-underground, a repository for malware information, an unidentified threat actor is utilizing malware to pilfer login details and other information from individuals who use pay-to-cheat software in video games.

The assaults are directed at players, particularly those who purchase cheating tools, and have affected more than 4.9 million accounts belonging to users of Activision Blizzard and its Battle.net game store, as well as accounts on Elite PVPers, a game-centric trading platform, and cheat software markets like PhantomOverlay and UnknownCheats.

Users impacted by this have started reporting instances of cryptocurrency drainage, with their Electrum BTC wallets being emptied. The exact amount stolen remains unknown, as per vx-underground's statement.

PhantomOverlay, in a Telegram post on March 27, disputed the number of compromised accounts, suggesting that a significant portion of the logins in a database they reviewed were invalid. They described the malware as a network of free or low-cost software likely originating from widely used programs among gamers like latency tools or VPNs.

The group labeled this as the most extensive info-stealing malware operation in the history of the gaming and cheating community. They also hinted at having insights into the malware's source but noted the challenges in proving suspicions due to the perpetrators' actions.

Activision Blizzard has engaged with cheat-selling platforms to aid the millions of affected users. They acknowledged the potential compromise of industry-wide credentials due to malware from unauthorized software and assured the security of their servers while advising users to change passwords for added protection.

PhantomOverlay, alerted to fraudulent activities by unauthorized purchases made through user accounts, has been actively investigating and identifying more victims since then.