Binance Warns of Clipper Malware Stealing Crypto Funds — Key Steps to Protect Yourself

YEREVAN (CoinChapter.com) — Global cryptocurrency exchange Binance has issued a warning about the rise in Clipper malware attacks, which target crypto wallet addresses during transactions. This malware hijacks wallet addresses, leading to the theft of crypto funds. Binance has implemented security measures and shared information to help users protect their crypto funds from this growing threat.

Clipper Malware Threatens Crypto Wallets

Clipper malware is increasingly targeting users transferring cryptocurrency. The malware intercepts wallet addresses stored on keyboards and replaces them with fraudulent ones. When users copy and paste an address during a crypto transaction, the malware swaps it with an attacker’s address, resulting in stolen crypto funds.

Binance, in a blog post, stated that since August 27, there has been a rise in the spread of Clipper malware, particularly through unofficial apps and plugins on Android and web platforms. iOS users, though less frequently targeted, are also advised to stay cautious.

“The malware is often distributed through unofficial apps and plugins, especially on Android and web apps,”

Binance reported. The company added that users should be careful when downloading software from unverified sources to protect their crypto wallets.

Binance Enhances Security to Counter Clipper Malware

In response to this threat, Binance has taken steps to enhance security, including blacklisting suspicious wallet addresses linked to Clipper malware. This has prevented multiple fraudulent withdrawals. Binance also notified affected users about the malware and recommended precautions.

Binance has shared important security tips, including verifying the authenticity of any software related to cryptocurrency. Users are encouraged to stay informed on security updates and to use reliable security software to identify potential threats.

Triple-Check Wallet Addresses to Avoid Clipper Malware

Binance has advised users to always triple-check wallet addresses before completing any crypto transaction. Clipper malware works by replacing wallet addresses during the transaction process. Ensuring the address is correct can help prevent the loss of crypto funds.

Binance further stated that users should only download apps from official sources and verify their legitimacy.

“Users should exercise caution when searching for software in their native languages or through unofficial channels,”

Binance noted.

By following the advice provided, crypto users can mitigate the risk posed by Clipper malware and protect their funds from fraudulent activity.