Microsoft Alerts Users About New Malware Targeting 20 Popular Cryptocurrency Wallets

Tech behemoth Microsoft alerted users about a newly discovered malware that threatens 20 of the most widely used cryptocurrency wallets.

Tech giant Microsoft has issued a stark warning to users about a newly discovered malware that threatens 20 of the most widely used cryptocurrency wallets.

What Happened: In a Monday research report, Microsoft identified a remote access trojan named StilachiRAT that could evade detection, maintain its presence in the target environment, and extract sensitive data. The malware targets some of the most popular wallets, such as MetaMask, Coinbase (NASDAQ:COIN) Wallet, and Binance BNB/USD-owned Trust Wallet.

First identified in November, the trojan is capable of pilfering users' wallet details and other credentials, including usernames and passwords, stored in their Google Chrome browser, Microsoft added.

The company suggested some mitigation measures, including the recommendation to download any software only from the official website and install antivirus software.

MetaMask also acknowledged Microsoft's findings and urged users to take necessary precautions.

A new malware is targeting crypto wallets, with the goal of stealing funds.

Malware is always evolving. A few ways to remain safe:

✅ Download software only from official sources

Get and use a hardware wallet

Be cautious of phishing links

Enable 2FA where possiblehttps://t.co/C34Ee9voDM

— MetaMask (@MetaMask) December 10, 2024

See Also: Crypto Leaders Step Up Pressure On SEC As Trump's Policies Reshape Regulatory Landscape

Why It Matters: This warning from Microsoft comes as the cryptocurrency sector continues to be plagued by cybersecurity threats.

Last month, reports of cryptocurrency exchange Bybit's potential compromise of its multi-sig wallet provider Safe, which may have facilitated the theft of $1.4 billion in Ethereum ETH/USD, emerged, sending shockwaves across the sector. Bybit founder Zhou stated that the attack specifically targeted Bybit's Ethereum cold wallet.

According to Chainalysis, cryptocurrency crime decreased in 2024 despite the massive heist.

"Despite the large-scale theft from Bybit's multi-sig wallet and the increasing use of ransomware, overall cryptocurrency crime fell by 65% in 2024 compared to the previous year," the report highlighted.

The report further noted that the total value of cryptocurrency recovered by blockchain security firms also decreased in 2024 compared to 2023.

"Although less attention-grabbing than the theft of billions of dollars in cryptocurrency, the recovery of stolen funds is a crucial service provided by blockchain security firms. In 2024, we observed a decrease in the total value of cryptocurrency recovered by these firms compared to the previous year," the report added.

Price Action: Shares of Coinbase Global Inc. COIN closed 4.14% lower at $181.14 during Tuesday's regular session, according to data from Benzinga Pro.

Photo Courtesy: Shutterstock.com

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