New security threat – StilachiRAT targets crypto wallets via Google Chrome extensions 

• Microsoft has flagged a malware that could affect 20 crypto wallets via Google Chrome
• A big chunk of stolen crypto funds have been linked to hacks and security breaches

Microsoft is in the news today after it flagged a new security threat that could compromise 20 crypto wallets accessed via Google Chrome extensions. As per a report, the malware ‘StilachiRAT’ has remote access to PCs, enabling it to scan and steal users’ credentials, including digital wallets. 

Some of the wallets vulnerable to the malware include Phantom, Bitget, Trust, MetaMask, BNB Chain, OKX, Sui, and Coinbase wallets, among others. 

Here, it’s worth pointing out that while Microsoft noted that the malware didn’t have a massive footprint, its stealth capabilities are worth monitoring. This, to help users protect their crypto assets.

Solana-based Phantom Wallet has already acknowledged the threat and cautioned its users to adopt extra measures. Users have been advised to use password managers, update their anti-virus, and avoid copy-pasting private keys. 

Crypto losses

Last month, Bybit lost $1.5 billion to a security breach linked to North Korean threat actors. In fact, this accounted for half of the reported lost funds in 2024, according to data compiled by Web3 security firm PeckShield.

Source: PeckShield

As per PeckShield’s data, hacks have accounted for 70% of total lost funds over the past year, compared to scams. This means that users have been more susceptible to security breaches than Ponzi schemes. 

Besides, less than $500M of the lost +$3 billion crypto funds in 2024 were recovered. Simply put, early prevention and safety measures are necessary because recovery efforts could be tenuous and unlikely in some cases.