- Zcash Community Spots Fake Wallet Version
- Fake Version of ZecWallet Contains Malicious Codes
- Community Members Warned to Proceed With Caution
Zcash, the privacy-oriented digital currency community recently discovered a fake wallet version of the crypto. The community reported the fake ZecWallet which was being promoted on various social media platforms. This wallet contains malware and the Zcash developer Electric Coin Company has sent out a warning to all users to apply caution when downloading the wallet. The company also advised users to make use of its official website to get the right link. In the past, a bug was discovered in Zcash implementations. Also, the coins forks which could leak metadata that contains full node were not left out.
Fake Version of ZecWallet Contains Malicious Codes
On Sunday, 20th October, the official handle of ZecWallet took to Twitter to inform the community of the recent possible safety breach. In the tweet, it reported that there is a fake version of the ZecWallet and that this wallet may contain malicious codes that can harm the wallet users.
Later in the morning, the official handle of ZecWallet reaffirmed its warning with a re-tweet which acknowledged the apparent threat to some users of the cryptocurrency.
Two days earlier, ESET, a major antivirus software supplier discovered a fake version of Tor Browser. It is ‘trojanized’ to steal BTC from buyers. Users in Russia were the main targets. The browser was distributed through two different websites and has existed since 2017. Since its inception, it has been used to steal crypto from shoppers on the darknet and it does so by swapping the main crypto addresses with fake ones.
The antivirus software supplier also flagged another malware which was built to steal crypto from users. It is called “Metamorfo” or “Casbaneiro” and it is a trojan that targeted crypto services and banks in Mexico and brazil. At the time of the report, the malware had stolen 1.2 BTC.
Privacy Coins Face Backlash
Zcash offers privacy features to users and this has made it a popular currency for cybercriminals. Most of the time, online extortions involve Zcash requests.
This threat posed by criminal activities has pushed OKex and UpBit, two major digital asset exchanges to delist Zcash. Other privacy coins such as Dash were affected as well. Binance recently listed Zcash on its USA subsidiary despite this problem.
In the crypto industry today, malware is common as hackers continuously try to siphon funds with different strategies. One popular type is crypto-mining malware. It is usually injected into computers of the victims to mine cryptocurrency. Earlier in the year, researchers found a Monero-mining software that hides all processes from system task manager to keep it hidden as it works.