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Ethereum [ETH] could have been stolen through malware impersonating MetaMask

Priya

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Ethereum [ETH] could have been stolen through malware impersonating MetaMask
Source: Unsplash

Bitcoin [BTC] and other cryptocurrencies became one of the most controversial topics around the globe in the year – 2018. The rise of its popularity is credited to a massive rise and fall in its price. Majority of the top-currencies alone were depleted of 90% of its value at the end of the year, in comparison to its value at the beginning of the year.

Apart from the price, the other factors that led to the popularity of the cryptocurrency market were the scams and hacks that occurred throughout the year, resulting in the loss of over a million dollars. To add on, some of the scams in the space were pulled off by stealing the identity of several major players around the world, including that of Elon Musk, the face of Tesla and Space-X.

However, this side of the market continues to thrive even though the market itself has not made any major move in terms of bringing the price of cryptocurrencies to the bull’s market. This year started with Cryptopia announcing that they had encountered a security breach, which has resulted in the exchange losing funds to attackers.

Ethereum Classic, one of the leading cryptocurrencies in the space, also witnessed a 51% attack. More so, QuadrigaCX, a cryptocurrency exchange, declared itself insolvent after the death of the CEO, as it was announced that he was the only person who had control over the cold wallets.

Now, another hack has been bought to light, a malware discovered on Google Play. According to research by welivesecurity, a malware identified as ‘Clipper’ is being used to steal investors funds. The research read:

“For security reasons, addresses of online cryptocurrency wallets are composed of long strings of characters. Instead of typing them, users tend to copy and paste the addresses using the clipboard. A type of malware, known as a “clipper”, takes advantage of this.”

It further stated:

“It intercepts the content of the clipboard and replaces it surreptitiously with what the attacker wants to subvert. In the case of a cryptocurrency transaction, the affected user might end up with the copied wallet address quietly switched to one belonging to the attacker.”

The report revealed that this malware was used to impersonate MetaMask, developed by the ConsenSys that allows users to run Ethereum dApps without running a full Ethereum node. The malware enables the hacker to gain control over the user’s Ethereum’s private keys, which can later be used to transfer all the coins to a different wallet address. Along with this, the hacker can also change the address copied via the Clipper into their own address.

More so, this malware was added to Google Play earlier this month, February 1, 2019. This was soon spotted by the research team, who later notified the security team. This was followed by the team taking down the malicious app from the app store.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Altcoins

Ethereum Classic releases Parity-Ethereum 2.5.2-beta to allow Atlantis hardfork on Morden, Kotti Classic networks

Arijit Sarkar

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Parity-Ethereum aims at mass adoption through hardforking updates
Source: PxHere

The original Ethereum [ETH] Co-founders, Vitalik Buterin and Charles Hoskinson, have contributed immensely to the crypto’s growth, while creating complete ecosystems as foundations to build future projects. Amidst the numerous hardforks, a continuation of the original Ethereum blockchain, Ethereum Classic [ETC], has also given rise to numerous projects that currently stand at the frontier of crypto-adoption and development.

The ETC-inspired Parity Ethereum is delivering updates aimed at enabling hard forks on various blockchain networks. One of its latest updates, Parity-Ethereum 2.5.2-beta, will enable users perform the Atlantis hardfork on Morden and Kotti Classic networks. The Atlantis hardfork is a protocol upgrade that can incorporate pre-activated EIPs on Ethereum. Additionally, it will also help in easier migration of DApps between networks.

The news was revealed by Ethereum Classic’s official twitter handle, which said,

“Update enables Atlantis support on the #Kotti and #Morden ETC testnets.
New Versions of ‘Parity-Ethereum’ Available: v2.5.2-beta; v2.4.7-stable”

The update was expanded upon by the Github page that calls the update “a bug-fix release that improves performance and stability.” The previous upgrade brought in hardforking capability by introducing Petersburg and Kovan Network community hardforks on the Rinkeby and POA-Core Networks.

While the supposedly fastest and lightest Ethereum client remains focused on delivering highly customizable blockchains for private use, speculators within the crypto-industry have taken notice of ETC’s rising market cap, which was $976 million, at press time. Further, the 18th-ranked cryptocurrency has also recorded a strong bullish trend since the beginning of 2019.

Crypto-enthusiasts have thus, taken to Twitter to pledge their long-term support for ETC. One such user, @con_gang, replied to the original post and tweeted,

“Let’s GO $ETC! Paaaaaaaaaaaaaaamp it Barry!!!!!!”

Both the beta and stable versions of the update also contain bug fixes that are related to the rejecting, rather than truncating timestamps. These updates will also work towards removing dead chain configs. Further, some experts have pointed out that Parity Ethereum’s update that involved reworking the Sha3/keccak256 hash calculation, had also improved the overall performance of the network.

While the GitHub link does not talk about light client support being fully functional yet, ETC’s game plan reflects an increased focus on long-term adoption rather than trading value recovery, which is similar to Ethereum and Cardano’s roadmap.





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