As the cryptocurrency world continues to evolve, several new methods are being developed by cybercriminals to defraud crypto users. One of the latest reported methods is the most used by these fraudsters to steal users’ funds is Clipper Malware.
Beware of Rising Clipper Malware Scam
In a warning message on the X forum (formerly Twitter), Shibarmy Scam Alerts issued a report. warning in the Shiba Inu community and the general scam sector of the new malware, which is actively focused on the sale of crypto. This warning is part of a larger effort to protect all members of the public from the growing cyber threats in the cryptocurrency industry.
Clipper malware The strategy, which is currently gaining momentum in the community, was first discovered 7 years ago, which shows that cyber criminals it may turn to past ways. Since then, it has been found in dubious Android apps. While Android devices are often affected by the malware, the team behind the account warns that it may now affect Android and iOS users.
Originally found on Windows, the malware’s patch copied cryptocurrency wallet addresses to users’ clipboards, allowing attackers to divert money by entering and changing the copied addresses. Simply put, when a user copies an address, the software replaces the attacker’s address with the target’s address, and the attacker ends up getting paid once the job is done.
According to the the groupcrypto attacks in the form of clipper malware have recently increased significantly in the industry, and many users have become victims of fraud. Major digital goods platforms such as Binancethe world’s largest crypto exchange, has taken steps to address this threat by listing suspicious wallet addresses and notifying users in advance. Despite these measures, everyone in the crypto community is still at high risk of becoming a victim of a scam.
Considering this rapid growth, the team emphasized the need for strong security procedures, urging users to manually verify wallet addresses before performing a transaction, to work with applications from trusted sources such as an apple or Google Google Play Store, and be careful when engaging with unknown and insecure platforms.
Cheats Target Shiba Inu K9 Finance’s Staking Platform
Shibarmy Scam Alert also has it you have been warned Shiba Inu community about cyber criminals who are posing as the newly launched platform, K9 Finance. “We want to warn you about fraudsters who are trying to deceive our society K9 finance introduce,” said the group.
While K9’s finance team has been fighting DDoS attempts from these actors, fake groups and links on the Telegram platform continue to pop up quickly. So far, the team has urged users to monitor and follow only official K9 Finance links, while sharing official links alongside a warning.
Featured image from iStock, chart from Tradingview.com