Warning from Binance Regarding Escalating Clipper Malware Attacks Targeting Users of Cryptocurrencies
The Binance cryptocurrency exchange alerts users to a growing threat worldwide, as malicious clipper malware targets cryptocurrency users to facilitate financial fraud.
Clipper malware, also known as ClipBankers, is a form of malware referred to by Microsoft as cryware. This malware is equipped to track a user’s clipboard actions, enabling the theft of valuable information copied by the user, such as substituting legitimate cryptocurrency addresses with those controlled by criminals.
Consequently, any digital currency transfers initiated on an infected device are redirected to an unauthorized wallet instead of the intended recipient’s address.
“In the technique of clipping and switching, cryware monitors the content of a user’s clipboard, searching for a string resembling a hot wallet address,” the technology giant previously mentioned in 2022. “When the victim pastes or uses CTRL + V in an application window, the cryware swaps the data in the clipboard with the attacker’s address.”
Binance, in a warning issued on the 13th of September 2024, declared that it has been monitoring a widespread malware attack intercepting clipboard data in an effort to replace cryptocurrency wallet addresses.
“The situation witnessed a significant surge in activity, notably on August 27, 2024, resulting in substantial financial losses for affected individuals,” the exchange stated. “The distribution of the malware primarily occurs through unofficial applications and plugins, especially on Android and web platforms, although iOS users should also remain cautious.”
There is proof to indicate that these deceitful applications are installed inadvertently by individuals seeking software in their native dialect or through unofficial means, chiefly due to constraints in their countries.
The organization further informed that it is proactively blacklisting malicious addresses to prevent additional unauthorized transactions and has alerted impacted users to watch out for signs of questionable software or plugins.
Aside from advising against downloading software from unofficial sources, Binance advocates for carefulness in app and plugin installations, ensuring their validity.
Analyses from blockchain experts at Chainalysis exposed the previous month a nearly 20% decrease in overall illicit on-chain activities year-to-date, despite an almost double inflow of stolen funds from $857 million to $1.58 billion.
“Scammers seem to be transitioning from widespread ponzi schemes to more targeted schemes such as pig butchering, work-from-home scams, drainers, or address sabotage,” it mentioned, highlighting an increase in the use of online marketplaces in Chinese and laundering networks.
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