Crypto wallet owners are advised to heighten their security efforts in response to new threats highlighted by governmental agencies. A warning has emerged from the U.S. Federal Bureau of Investigation (FBI), Cybersecurity and Infrastructure Security Agency (CISA), and the U.K.’s Government Communications Headquarters (GCHQ) about a new malware known as “Infamous Chisel.”
According to their joint report, “Infamous Chisel” targets Android devices and seeks out crypto wallets and exchanges in an effort to breach their security. Alarmingly, this malware has been linked to Sandworm, a cyberwarfare unit under the GRU, Russia’s military intelligence agency.
Despite activities predominantly targeting the Ukrainian military, the Infamous Chisel poses a serious threat for any Android users. The malware’s main priority, it seems, is to extract data from these compromised devices, with Binance and Coinbase applications, along with the Trust wallet application, being noted as primary victims.
“Infamous Chisel” has been developed with little regard for concealing its intent, offering a transparent threat to all potential targets. That said, it is speculated that this blatant approach could be due to the relative lack of host-based detection systems for Android devices.
As concerning as this news is, some light can be found in the fact that overall losses to crypto fraud have undergone a significant decline. Blockchain security firm CertiK reported a decrease in losses from $486 million in July 2023, to $45 million in August of the same year.
Regardless, as the potential for breaches persists, it is vital to maintain the most rigorous security standards. Our digital assets remain a high-risk investment, requiring diligent protection. As the famous saying goes – better safe than sorry.
Source: Cointelegraph
