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HomeCyber CrimeCrypoto Wallet Apps Cloned to Steal Crypto

Crypoto Wallet Apps Cloned to Steal Crypto

SeaFlower is a large-scale effort that uses cloned applications from cryptocurrency wallets including MetaMask, Coinbase, imToken, and TokenPocket, according to researchers.

 

The Seaflower Mission Was A Success.

Confiant researchers discovered the effort in March and labelled the behaviour as SeaFlower. The activity is also regarded as a technically advanced threat aimed at web3 users.

Malicious cryptocurrency apps are identical to legitimate ones. These phoney apps, on the other hand, provide a backdoor that may steal users’ security phrases for gaining access to digital assets.

The attackers had embedded backdoors code in these programmes, according to researchers. Seed phrases are stolen by the backdoor malware and sent to sites that seem like real merchants.

According to clues such as the language of source code comments, frameworks, infrastructure location, and utilised services, the attackers appear to be Chinese.

Techniques of Propagation

According to studies, search services are the key distribution method. Hackers are said to be pushing it through social media, forums, and malvertising.

Furthermore, the trojanized programmes propagated through fraudulent cryptocurrency wallet websites, as well as black SEO and SEO poisoning strategies.

The SeaFlower effort has the largest influence on the Baidu engine’s search results.

On iOS, the sites exploit provisioning profiles to evade security measures by side-loading malicious programmes.

Guidelines

Cryptocurrency users should always download wallet programmes from reputable sources to keep safe from such attacks. Users of iOS should not install provisioning profiles without first confirming the legality of the requests, as these profiles allow any software to be installed on macOS or iOS.

IEMA IEMLabs
IEMA IEMLabshttps://iemlabs.com
IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.
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