Binance has warned users about a new threat - Clipper malware that spoofs wallet addresses during transactions, following a $5.6 billion fraud last year.Binance recently warned users about one of the latest threats - the Clipper malware.
The warning follows an FBI report that showed #digital currency users lost more than $5.6 billion over the past year to several scams and frauds.
Clipper malware is designed to exploit the devices' clipboard functionality. Specifically, #cryptocurrency wallet numbers for transactions contain a series of letters and numbers that are usually copied when transferring funds.
#Binance also explains that the malware's modus operandi is to replace the copied wallet address with another one belonging to the attacker. Users who don't verify the address before signing transactions lose funds by transferring money directly to the attacker's address.
users of Android mobile devices and web applications are most vulnerable to clipper malware attacks. The Binance blog notes that these apps are usually downloaded from third-party sources or in local languages to avoid official app stores due to regional restrictions. The blog notes that they are named. However, iOS users seem to be less at risk and should continue to exercise caution on different operating systems.
Binance says there are a number of steps that can be taken to avoid the dangers of clipper-type malware. When it comes to apps and plugins, it is recommended that you stick to only known sources and be careful with wallet tags and transactions. To avoid such issues, it is also recommended to install appropriate software to recognize and remove dangers.
Among the recent security breaches is the Indian exchange WazirX, which lost around $230 million due to a wallet hack. Indonesian exchange Indodax also lost 22 million US dollars. These two cases clearly demonstrate that threats in the cryptocurrency environment are constant and continue to emerge.
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