Beware of ‘Clipper Malware’: Binance warns of crypto fraud

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As a seasoned researcher who has witnessed the evolution of cyber threats over the years, I can attest that the rise of Clipper malware is yet another grim reminder of the ever-present danger lurking on the digital frontier. Having lost personal funds to such scams in the past, I cannot stress enough the importance of vigilance and caution when dealing with crypto transactions.

Binance has issued a global alert about a rising malware threat targeting cryptocurrency users.

Clipper malware is a harmful piece of software that changes the recipient’s wallet address during transactions, potentially causing financial loss for users who aren’t aware. This information comes from Binance.

The harmful software alters the wallet addresses that a user has copied, leading them unknowingly to a location managed by the attacker. Essentially, this software manipulates certain digits in cryptocurrency transactions, resulting in users accidentally transferring their funds to cybercriminals instead of their intended targets.

Hi @AliAmosi

Clipper is a malicious software that covertly moves assets into unintended wallets belonging to ill-intentioned individuals. It’s likely that your browser, account information, or operating system has been infiltrated. To ensure safety during withdrawals, it’s recommended to only transact through the whitelist on #Binance exchange, as this will help prevent…

— Binance Customer Support (@BinanceHelpDesk) June 1, 2024

As reported by Binance (BNB), there has been a significant surge in this issue over the past few weeks, with a notable uptick occurring around August 27, 2024. This malware is predominantly distributed through unauthorized applications and plugins, posing a particular threat to Android users, although iOS users are also vulnerable.

Often, users unwittingly download malicious software when they search for programs using their native languages or resort to unauthorized sources.

Risk-taking measures

In response, Binance’s security squad has taken various steps to address the issue. They’ve flagged suspect accounts, alerted impacted users, and are keeping a close eye out for any additional dangers.

Users should carefully verify the withdrawal addresses three times and make sure there’s no malicious software affecting their transaction process.

The company has also urged users to verify the authenticity of apps and plugins, double-check withdrawal addresses, and install reliable security software to guard against these scams. Binance also recommends regularly updating security software to stay safe.

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2024-09-13 17:48