A new type of malware has surfaced that can compromise crypto wallets and extensions, putting investors at risk of hacks. According to a new blog post by network security expert 3xp0rt, a piece of malware known as Mars Stealer – an improved version of information bootlegger Oski Stealer – has emerged to prey on web […]
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Users have been warned against a new malware designed to steal crypto from browser extension wallets such as MetaMask and Coinbase Wallet.
Security was never the strong suit of browser-based crypto wallets to store Bitcoin (BTC), Ether (ETH) and other cryptocurrencies. However, new malware makes the safety of online wallets even more complicated by directly targeting crypto wallets that work as browser extensions such as MetaMask, Binance Chain Wallet or Coinbase Wallet.
Named Mars Stealer by its developers, the new malware is a powerful upgrade on the information-stealing Oski trojan of 2019, according to security researcher 3xp0rt. It targets more than 40 browser-based crypto wallets, along with popular two-factor authentication (2FA) extensions, with a grabber function that steals users’ private keys.
MetaMask, Nifty Wallet, Coinbase Wallet, MEW CX, Ronin Wallet, Binance Chain Wallet and TronLink are listed as some of the targeted wallets. The security expert notes that the malware can target extensions on Chromium-based browsers except Opera. Sadly, it means some of the most common browsers such as Google Chrome, Microsoft Edge and Brave made it to the list. Also, while they are safe from extension-specific attacks, Firefox and Opera are also vulnerable to credential-hijacking.
Related: 'Less sophisticated' malware is stealing millions: Chainalysis
Mars Stealer can be spread through various channels such as file-hosting websites, torrent clients and any other shady downloaders. After infecting a system, the first thing the malware does is check the device language. If it matches the language ID of Kazakhstan, Uzbekistan, Azerbaijan, Belarus or Russia, the software leaves the system without any malicious action.
For the rest of the world, the malware targets a file that holds sensitive information such as crypto wallets’ address info and private keys. It then leaves the system by deleting any presence once the theft is complete.
Hackers are currently selling Mars Stealer for $140 on dark web forums, meaning the barrier to access the trojan is relatively low for malicious actors. Users who hold their crypto assets on browser-based wallets or use browser extensions like Authy to utilize 2FA are warned to be cautious against clicking dubious links or downloads.
Seeking a permanent solution for over 4 million BTC users, the government of El Salvador focuses on Chivo wallet’s stability and uptime, scalability and social impact.
El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability.
Within the first month of establishing BTC as a legal tender, President Nayib Bukele announced that Chivo wallet onboarded 2.1 million Salvadorans, which by the end of the year amasses 75% of the population. However, the mass adoption met with numerous roadblocks, including system issues and missing funds.
Seeking a permanent solution for over 4 million BTC users, the government of El Salvador partnered with a white label infrastructure provider, AlphaPoint, focusing heavily on Chivo wallet’s stability and uptime, scalability, and social impact.
According to the official statement, Chivo intends to expand its current consumer-faced use cases to other day-to-day transactions such as simplifying payments of home utilities, taxes and many other daily transactions in Bitcoin:
“The project has aspirations to Chivo is also in the process of deploying 1,500 Bitcoin ATMs around the country to more readily serve the Salvadoran population.”
The latest AlphaPoint integration will extend support for point-of-sale systems, websites and the Salvadoran government’s administrative console. In addition, the update includes improved “Lightning integration for nearly instantaneous low-fee Bitcoin transactions via QR and Lightning addresses.” AlphaPoint CEO and co-founder Igor Telyatnikov said:
“El Salvador and President Bukele are truly leading globally with this first major experiment in Bitcoin adoption at a country-wide level. We are honored to be involved in the process and provide the scalable and reliable solutions needed for this massive undertaking.”
Related: El Salvador explores low-interest loans backed by Bitcoin
In pursuit of exploring greater use cases for BTC, the government of El Salvador is exploring the possibility of BTC loans with lower interest rates.
As Cointelegraph reported, Mónica Taher, El Salvador’s Director of Technology and Economy International Affairs, hosted a Facebook Live event to share the agenda of providing low-interest BTC loans to small and micro-businesses. Speaking to Cointelegraph, she said:
“The Bitcoin small loans will provide access to digital money for the unbanked while helping them create a credit history. El Salvador’s economy will strengthen by empowering its small businesses.”
MyCrypto and MetaMask will be combining technology and teams to build the ideal wallet. The terms of the deal were not disclosed.
ConsenSys announced Tuesday that it had acquired MyCrypto, the Ethereum wallet interface provider, adding it to the software company's product suite. Its intent is to merge MyCrypto with the ConsenSys-owned MetaMask wallet, to "improve the security of all the products and create a cohesive user experience across desktop, mobile, extension and browser wallets."
We are very excited to bring the @MyCrypto team to @MetaMask! The two teams have been friends and Ethereum colleagues with shared values since 2016.
— Joseph Lubin (@ethereumJoseph) February 1, 2022
Together we will continue to build increasingly user-centric, extensible, and decentralized products.https://t.co/A7y8pkrg7f
MetaMask currently has 21 million monthly active users, according to its website, and is one of the fastest-growing non-custodial Ethereum wallets and browser extensions. MetaMask co-founder Dan Finlay said that he expects that the combination between MetaMask's mobile apps and browser extensions and MyCrypto's web product and desktop application will "connect people to the world of Web3 in even more ways."
Related: MetaMask’s new inbuilt multichain institutional custody feature
Similarly, MyCrypto explained in a blog post how it will be working together with MetaMask "to lead the way to Web3" and that they have a shared goal to "build the perfect wallet." The characteristics of an ideal wallet include becoming increasingly decentralized and trustless, prioritizing user security and safety and providing seamless access across various user accounts, protocols and networks.
MyCrypto clarified that the user experience will not be changing in the short term, apart from small updates like UX improvements, network handling, error messages and a dark mode. Neither is any action needed from MyCrypto or MetaMask users at this time. In the long-term, however, both wallets will reportedly "slowly" merge into a "comprehensive, Ethereum-first suite of open-source, non-custodial product offerings.
According to ConsenSys, MetaMask co-founders Dan Finlay and Aaron Davis, alongside MyCrypto founder Taylor Monahan, will lead the new desktop, mobile, extension and browser product team, while MyCrypto’s 12 employees will join ConsenSys.
ConsenSys reached a valuation of $3.2 billion after raising $200 million in November 2021.
Phantom, the cross-platform Solana wallet built for DeFi and NFTs, achieved unicorn status after attaining a $1.2 billion valuation.
Software wallet and browser extension Phantom has raised $109 million in Series B financing to continue expanding its cross-platform capabilities beyond Solana.
The funding round was led by Paradigm, an investment firm focused on cryptocurrency and Web3 companies. Other venture firms to have supported Phantom in prior funding deals include Andreessen Horowitz, Jump Capital and Variant Fund.
According to Phantom, the funding will help enhance the wallet’s technical capabilities, such as better app discovery, as well as allow the company to hire additional employees.
In addition to its funding round, Phantom also announced Monday that its mobile app is now available for iOS devices.
Phantom currently boasts of over 2 million monthly active users, having doubled its user count in less than three months. Much of that growth is tied to Solana ecosystem adoption, especially around nonfungible tokens, or NFTs. Phantom provides support to Solanart, a Solana-based NFT marketplace that currently ranks eighth in terms of trade volume, according to DappRadar.
1,000,000 active users just in time for @SolanaConf!!
— Phantom (@phantom) November 6, 2021
pic.twitter.com/d7Pc2j9tA2
While NFT trade volumes have weakened in recent months amid a broad cooldown in the crypto markets, Phantom co-founder and CEO Brandon Millman told Cointelegraph that overall adoption of the software wallet is “still really strong” and that the “NFT ecosystem has played a huge role.” He added that, “while the market is down a bit, some NFT collections have really held their value and even grown.”
Related: Got crypto? Here are 3 software wallets for storage, staking and swapping
Phantom has also been optimized to support the growing world of decentralized finance (DeFi), which is another corner of the market that has cooled considerably in recent months. When measured in terms of total value locked, or TVL, the decentralized finance industry has lost over 30% from its peak in the fourth quarter, according to DeFi Llama.
Meta published the application for registration on Jan. 25 and is currently awaiting opposition prior to INPI approval.
Meta, the world’s biggest social media platform, has filed a trademark registration with the Brazilian authorities to design, develop and provision hardware and software for various Bitcoin (BTC) and crypto-related services.
Meta recently rebranded from Facebook as a move to better align with the Metaverse developments despite regulatory hurdles faced during its numerous previous attempts to enter the crypto space.
Accelerating this effort, Meta filed a trademark registration with the Brazilian National Institute of Industrial Property (INPI) for crypto products and services related to trading, wallets and exchanges platforms.
Further investigations from Cointelegraph reveal a translated version of the specifications about the products and services to be trademarked for Meta, as shown below:
"Design, development and implementation of software for third-party verification services for digital currency transactions, including (but not limited to) transactions involving Bitcoin currency."
Meta published the application for registration on Jan. 25 and is currently awaiting opposition prior INPI approval. According to the filing, Meta’s trademark filing order was placed on Oct. 5, 2021, from Jamaica.
Related: Apple stock jumps after CEO reveals it's investing in the Metaverse
During the company’s Q1 2022 earnings call, Apple CEO Tim Cook said that he sees considerable potential in the Metaverse space, resulting in a sudden spike on Apple stock prices.
As Cointelegraph reported, Apple stocks (APPL) jumped up 8% to $167.23 in after-hours trading. Answering one of the questions about Apple’s opportunities within the Metaverse, Cook spoke about the “potential in this space and are investing accordingly,” adding:
“We're always exploring new and emerging technologies and I've spoken at length about how it's very interesting to us right now.”
Dogecoin founder Billy Markus noticed a suspicious transaction pattern on Etherscan that prompted the company to halt all transactions for the time being.
Major crypto wallet and platform Crypto.com has temporarily halted withdrawals after “a small number of users reporting suspicious activity on their accounts,” but all funds are reportedly safe at the moment.
We have a small number of users reporting suspicious activity on their accounts.
— Crypto.com (@cryptocom) January 17, 2022
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.
A few hours ago, Crypto.com halted withdrawals from its platform in response to several “thefts” reported by customers. Dogecoin (DOGE) founder Billy Markus noticed a suspicious transaction pattern on Etherscan that prompted the company to halt all transactions until it figures out what’s going on with its platform.
Internal system transfers and funds are safe? Inside job gone awry like office space? Hackers taking funds from an exchange hot wallet? ♂️
— Shibetoshi Nakamoto (@BillyM2k) January 17, 2022
Never a dull day in the world of crypto.
Ben Baller, a cryptocurrency enthusiast and jeweler, claimed that his account had been breached, losing 4.28 Ether (ETH) (about $15,000). He also said that he used two-factor authentication, so the alleged perpetrators must have bypassed some of Crypto.com’s security features.
I messaged yah guys hours ago about my account having 4.28ETH stolen out of nowhere and I’m also wondering how they got passed the 2FA?
— BEN BALLER™ (@BENBALLER) January 17, 2022
Related: Crypto.com announces global partnership with Formula 1
Cointelegraph reached out to Crypto.com for more details regarding its decision to halt withdrawals but did not receive a response as of publishing time. This article will be updated pending new information.
The cryptocurrency industry is no stranger to hacks, rug-pulls and protocol exploits. Earlier this month, decentralized finance security platform and bug bounty service Immunefi found that losses from hacks, scams and other malicious activities exceeded $10.2 billion dollars in 2021.
Per the report, there were 120 crypto exploits or fraudulent rug-pulls, the highest-valued hack being the Poly Network at $613 million.
The new wallet of China’s state-issued digital currency has quickly become one of the most downloaded applications in the country, within days of its launch. Its use and integration with other apps have contributed to an increase of digital yuan payments, media reports unveil. Wallet Launch Boosts Digital Yuan Ahead of Lunar New Year and […]
The exchange plans to verify users’ names and resident registration details to ensure crypto transactions were “not used for illegal activities such as money laundering.”
South Korean crypto exchange Coinone has announced it plans to no longer allow withdrawals of tokens to unverified external wallets starting in January.
In a Wednesday announcement, Coinone said users would have from Dec. 30 to Jan. 23 to register their external wallets at the exchange, after which time it would restrict withdrawals. The exchange specified that crypto users could only register their own wallets, and the verification process “may take some time” and could change in the future.
According to Coinone, it planned to verify users’ names and resident registration numbers — issued to all residents of South Korea — to ensure crypto transactions were “not used for illegal activities such as money laundering.” Customers at the exchange likely won’t be able to withdraw funds to wallets without Know Your Customer, or KYC, safeguards. This restriction also applies to the popular hardware wallet Ledger.
In March, the South Korean government implemented a previously passed bill that requires local crypto exchanges to meet requirements for a real-name account and ISMS authentication, as well as report on their operations within six months. Crypto users in the country will also see the implementation of a tax rule scheduled to go into effect in January — the rule would impose capital gains taxes on all crypto trading profits of more than roughly $2,300.
Related: 30-somethings led crypto purchases at South Korean exchanges in 2021
Many exchanges, including Bithumb, have since announced restrictions and stronger KYC and Anti-Money Laundering, or AML, checks in response to Korean lawmakers’ push to regulate crypto. However, Coinone will likely still accept wallets offered by exchanges already in compliance with KYC checks, which would include those from FTX and Binance.
The forthcoming crypto wallet will allow users to deposit and withdraw Bitcoin, Ether, Dogecoin and other tokens, the company said.
Cryptocurrency and stock trading app Robinhood plans to roll out the beta version of its digital wallet feature starting in January 2022.
In a Wednesday blog post, Robinhood said tens of thousands of users currently on the waitlist for the trading app’s crypto wallet would have access to the beta version starting in mid-January. The trading app said more than 1.6 million people were waiting for the wallet, which will support depositing and withdrawing Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and other tokens.
The trading app has been testing its digital wallet feature since it was first announced in September, completing its first alpha transfer — using DOGE — on Nov. 22. According to Robinhood chief operating officer Christine Brown, the beta rollout would be focused on the security of users, as well as providing education on crypto transactions and clarity around network and gas fees.
What’s next? The #WalletsBeta phase will start in mid-January & enable a larger group of users from the waitlist to gain access.
— Christine (Hall) Brown (@christine_hall) December 29, 2021
While Alpha focused on a small batch of customers and 1:1 engagement, Beta will roll out to tens of thousands of customers.
“While some say 2021 is the year that crypto went mainstream, the truth is that most people are still familiarizing themselves with the asset class and how to navigate the blockchain,” said Robinhood. “With the launch of wallets, we’re thrilled to play a significant role in welcoming a broad range of investors to the cryptosphere for the very first time.”
Related: Some Salvadorans claim funds are missing from their Chivo wallets
The share price of Robinhood (HOOD) on the Nasdaq seemed to be unmoved by the recent announcement. First going public in July, the stock has steadily declined from an all-time high price of $70.39 on Aug. 4 to $17.03 at the time of publication, a drop of more than 75%.
