Recently, a dangerous extension called "Safery: Ethereum Wallet" has been discovered on the Chrome Web Store, posing a significant threat to users' cryptocurrency assets. This malicious extension has been designed with a crafty backdoor that allows it to steal sensitive information, particularly seed phrases used to access Ethereum wallets.

The extension, which claims to be a tool for managing Ethereum wallets, has been found to contain malicious code that enables it to exfiltrate seed phrases from unsuspecting users. Seed phrases are essentially a series of words that serve as a backup for cryptocurrency wallets, allowing users to regain access to their funds in case they lose their private keys. By obtaining these seed phrases, hackers can gain full control over users' wallets and steal their digital assets.

The way this malicious extension operates is quite insidious. Upon installation, the "Safery: Ethereum Wallet" extension behaves like a legitimate wallet management tool, prompting users to enter their seed phrases for verification purposes. However, instead of storing this information securely, the extension secretly sends the seed phrases to a remote server controlled by the attackers.

This backdoor mechanism is a classic example of a phishing attack, where cybercriminals use deceptive tactics to trick users into divulging sensitive information. In this case, the malicious extension preys on users' trust by masquerading as a legitimate service, only to exploit their naivety and steal their valuable data.

To make matters worse, the "Safery: Ethereum Wallet" extension has managed to bypass Google's security checks and make its way onto the Chrome Web Store, where it can easily be downloaded by unsuspecting users. This highlights the growing sophistication of cyber threats and the need for users to exercise caution when installing browser extensions, particularly those related to cryptocurrency management.

To protect themselves from such threats, users are advised to be vigilant and conduct thorough research before installing any browser extensions, especially those that involve sensitive information like seed phrases. Additionally, it is crucial to use reputable wallet management tools and keep software up to date to minimize the risk of falling victim to malicious attacks.

In response to the discovery of the "Safery: Ethereum Wallet" extension, Google has been urged to take swift action to remove it from the Chrome Web Store and prevent further harm to users. This incident serves as a stark reminder of the importance of cybersecurity measures in safeguarding digital assets in the ever-evolving landscape of cryptocurrency threats.

Source: https://cointelegraph.com/news/malicious-crypto-wallet-google-extension-steals-seed-phrases?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound