Government agencies in both the United States and the United Kingdom have jointly issued a warning regarding a dangerous new malware threat known as “Infamous Chisel.” This malware is specifically designed to target cryptocurrency wallets and exchanges, posing a significant risk to users in the crypto space.
The collaborative effort includes agencies such as the U.S. National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI), and the U.K.’s National Cyber Security Centre (NCSC), a division of the Government Communications Headquarters (GCHQ).
The report highlights that Infamous Chisel is associated with Sandworm, a cyberwarfare unit operating under Russia’s military intelligence agency, the GRU. Sandworm has been using this malware to infiltrate Android devices, primarily focusing on those used by the Ukrainian military.
What’s particularly concerning is that Infamous Chisel can access sensitive data stored within directories of popular cryptocurrency exchange applications like Binance and Coinbase, as well as the Trust Wallet application. It doesn’t discriminate when it comes to file types; every file within these directories is stolen.
One notable flaw in Infamous Chisel is its lack of sophisticated hiding techniques. This weakness may partially arise from the fact that Android devices currently lack effective host-based detection systems, as noted in the report. In simpler terms, the malware isn’t very adept at hiding its malicious activities, making it somewhat easier to detect and defend against.
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On January 10, 2023, The Federal Financial Supervisory Authority (BaFin) in Germany issued a warning about a malware named “Godfather” that targets users of crypto and banking apps. This malware has impacted around 400 cryptocurrency and banking applications.
Recently in a report by todayq News on September 1, 2023, the crypto industry saw a record around $1 billion in losses. This significant figure was the result of a range of issues, with exploits accounting for a substantial $596 million, followed by flash loan attacks at $261 million, and exit scams contributing $137 million to the total losses.