Protecting Bitcoins: Beware Of Malicious Chrome Extensions

Protecting bitcoins is extremely important if you are about to download a suspicious Chrome extension as some users reported a malicious one that was downloaded more than 32 million times. In our Bitcoin news today, we take a closer look at the dangers of using Chrome extensions.

The new reports warn that most malicious Google Chrome extensions have a single internet domain register- the CommuniGal Communications and were downloaded more than 33 million times. These extensions have proven to be dangerous when you are protecting bitcoins as a crypto investor as one of them already lost all of his savings. The research compiled by the US-based security company Awake Security, informs that out of 26,079 examined domains registered with GalComm, 15,160 turned out to be malicious. This makes them particularly dangerous as they utilize several different techniques that help them stay under the radar of most security solutions:

“In the past three months alone, we have harvested 111 malicious or fake Chrome extensions using GalComm domains for attacker command and control infrastructure and/or as loader pages for the extensions. These extensions can take screenshots, read the clipboard, harvest credential tokens stored in cookies or parameters, grab user keystrokes (like passwords), etc.”

The report also noted that these extensions had been downloaded more than 32,962,951 times which only accounts for the extensions that are on the Chrome Web Store as of May 2020. The report outlined that “trust in the internet and its infrastructure is critical.” By exploring other components of the infrastructure such as browsers and domain registration, will only shake the foundation of trust and will pose another threat to organizations and consumers alike.

The same goes for cryptocurrencies. Since they are digital assets and exist online, they require a secure digital presence otherwise there will be risks as well. Traders already lost their bitcoins which they indented on spending to acquire a living space or a car. However, one trader who became a victim of a fraudulent Chrome extension used a fake KeepKey wallet and entered the recovery phrase in it which gave access to all of his holdings. The holder pleads the thieves to get him his money back but of course, they didn’t.

This is why it is important for investors to review and read and learn all the security tips to protect their digital asset investments at all times.
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