Cryptocurrency exchange Binance has warned users about a rise in “clipper malware” attacks that can steal cryptocurrency. The malware intercepts wallet addresses and replaces them with the attacker’s own. Binance said it has implemented security measures and provided tips for users, including verifying the authenticity of the application, checking withdrawal addresses, and updating security advisories.

Clipper Malware Attacks Are on the Rise

Global cryptocurrency exchange Binance has warned users to be on the lookout for a global malware that changes withdrawal addresses during transactions. Dubbed “Clipper malware,” the malware is said to intercept data stored on the keyboard, such as cryptocurrency wallet addresses. When a user copies and pastes an address, the malware can swap the original address with the attacker’s, leading to financial losses.

In a blog post, Binance said it has observed an increase in the use of this type of attack since August 27. The cryptocurrency exchange warned that the malware is often distributed through unofficial apps and plugins on Android and the web.

“Malware is often distributed through unofficial apps and plugins, especially on Android and web apps, but iOS users should also be vigilant. Many users unwittingly install these malicious apps while searching for software in their native language or through unofficial channels, often due to restrictions in their country,” Binance stated.

Users are encouraged to triple check the withdrawal address

To prevent more users from falling victim to this type of attack, Binance said it has implemented countermeasures, such as blacklisting suspicious addresses. The exchange said these measures have prevented many withdrawal attempts from potential victims. Binance has notified affected users about the malware and encouraged them to share details of their incidents.

Binance also shared security tips to help users protect their digital assets. These tips include verifying the authenticity of apps and only downloading from official sources. The cryptocurrency exchange also encourages users to always double-check or triple-check withdrawal addresses before completing transactions, stay up-to-date on security recommendations, and use security software.

The leading cryptocurrency exchange has informed its users that taking these steps will significantly reduce the risk of falling victim to this type of scam.

Do you have any other suggestions on how to avoid falling victim to this type of attack? Please share your thoughts in the comments section below.
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