Binance, the cryptocurrency exchange platform, has issued a warning regarding Clipper Malware, a threat that enables attackers to manipulate users’ wallet addresses. This can lead to the unauthorized diversion of digital funds.
This alert primarily affects users of various cryptocurrencies, particularly Bitcoin, which has recently experienced a decline in value following the second assassination attempt on former U.S. President Donald Trump.
Clipper Malware, also known as ClipBankers, was first identified in November 2022. It monitors victims’ clipboard activities, tracking what they copy, edit, and paste. Once attackers gain control of the clipboard, they can alter copied text, including cryptocurrency addresses, often replacing them with those of the attackers.
With this control, attackers can redirect funds to rogue wallets, effectively hijacking transactions meant for legitimate addresses. Microsoft has classified this type of malware as “Cryware,” highlighting its ability to replace clipboard contents.
A 2023 survey by the FBI estimated that cryptocurrency-related losses reached $5.6 billion.
Trade analysts have suggested that banning digital wallets and cryptocurrencies could reduce cybercrime by disrupting the operations of those spreading ransomware and malware. However, this approach is complicated by the decentralized nature of cryptocurrencies, which lack a governing authority to validate transactions. As a result, implementing such bans presents significant challenges for countries and law enforcement agencies.
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