May 29, 2024
US-UK Agencies Release Alert About Emerging Cryptocurrency Malware Risk
Latest Cryptocurrency News

US-UK Agencies Issue Warning on New Cryptocurrency Malware Threat

An advisory report jointly issued by government agencies in the United States and the United Kingdom has cautioned users about a fresh wave of malware that is specifically targeting cryptocurrency wallets and exchanges.

The U.S. National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI), and the U.K.’s National Cyber Security Centre (NCSC), a division of the Government Communications Headquarters (GCHQ), have collaborated to release a comprehensive report addressing the malware known as Infamous Chisel.

According to the report’s findings, this malware has been linked to the activities of Sandworm, a cyberwarfare unit operating under the auspices of the GRU, Russia’s military intelligence agency. The joint report further highlighted that Sandworm has been directing its efforts towards the Android devices used by the Ukrainian military, deploying the new malware to extract sensitive information from compromised mobile devices. The report disclosed that among the data extracted by the malware were files within the directories of popular applications like Binance, Coinbase, and Trust Wallet. Notably, the report emphasized that every file within the listed directories is exfiltrated, regardless of its type.

Furthermore, the joint report observed that the components of Infamous Chisel were developed with little consideration for concealing malicious activities. The malware lacks the stealth techniques typically used to cloak its operations. However, this may be due to the absence of host-based detection systems for Android devices, as outlined in the report.

Meanwhile, 2023 has witnessed nearly $1 billion in losses due to exploits, hacks, and scams. Blockchain security firm CertiK reported on September 1st that approximately $997 million had been lost year-to-date. In August alone, losses from such attacks amounted to around $45 million, marking a significant decrease compared to the previous month, when malicious attacks resulted in over $486 million in digital asset losses in July.

Image by freepik

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