Binance Issues Warning About Increased Clipper Malware Attacks

Cryptocurrency exchange Binance has issued a warning to its users about the growing threat posed by clipper malware. According to the company, recent attacks involving this type of malware have resulted in “significant financial losses for victims.”

What Are Clipper Malware Attacks?

Binance reminds users that clippers monitor the victim’s clipboard activity, steal confidential data, and replace cryptocurrency wallet addresses in the clipboard with those controlled by attackers. As a result, transfers initiated by the compromised user are sent to the hackers’ wallets instead of the intended recipients.

Current Threat Landscape

Representatives from Binance state that they are currently tracking this widespread threat. The malware intercepts clipboard data specifically to substitute cryptocurrency wallet addresses.

“The activity of this threat has increased significantly, especially on August 27, 2024, leading to substantial financial losses for affected users,” the exchange said in its statement. “This malware is often distributed through unofficial apps and plugins, particularly for Android, as well as through web applications. However, iOS users should also remain vigilant.”

How Users Are Targeted

Binance warns that users often inadvertently install malicious apps when searching for software in their native language or from unofficial sources—especially in countries where various restrictions are in place.

Binance’s Response and Recommendations

The company assures users that it is taking steps to blacklist the attackers’ wallet addresses to prevent further fraudulent activity. Binance has already notified affected users (the exact number of victims was not disclosed) and advised them to check for suspicious software and plugins on their devices.

Crypto Theft on the Rise

It’s worth noting that last month, experts from Chainalysis reported that the total amount of cryptocurrency theft continues to grow. In the first half of 2024, cybercriminals “earned” nearly $1.6 billion, compared to $857 million during the same period in 2023. However, researchers also noted that the overall volume of illegal activity on the blockchain has decreased by almost 20% since the beginning of this year.