Bitcoin Gains the Most in a Month as Dollar Drop Boosts Crypto

Bitcoin rose the most in more than a month, gaining along with Asian stocks and pushing past the psychologically important $20,000 level as a bout of dollar weakness drove demand for risk assets.

By:BLOOMBERG
| Updated on: Sep 09 2022, 23:30 IST
This malicious Firefox add-on stole thousands of dollars in cryptocurrency
A particular malicious add-on for Firefox, that goes by the name Safepal Wallet, has managed to scam users by stealing money from them and managed to live on the Mozilla add-ons store for seven months before getting detected and removed.
1/6 A particular malicious add-on for Firefox, that goes by the name Safepal Wallet, has managed to scam users by stealing money from them and managed to live on the Mozilla add-ons store for seven months before getting detected and removed. (Pixabay)
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2/6 Safepal is essentially a cryptocurrency wallet application that is capable of holding more than 10,000 types of assets, including Ethereum, Bitcoin, Litecoin, etc. However, Safepal is an official smartphone app that is available for Apple and Android both. There are no known “authentic” Safepal browser extensions. (BleepingComputer)
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3/6 According to a post shared by a user who goes by the name Cali on the Mozilla Support forum, within a few hours of installing and logging in to the Safepal Wallet extension with their real Safepal credentials, they saw their wallet balance drop to $0 from $4,000.  (Mozilla Support Forum )
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4/6 While investigating Safepal Wallet, BleepingComputer came across the phishing domain used by the add-on and this webpage was also listed as the "support site" link on the fake add-on's home page: https://safeuslife.com/tool/. WHOIS records indicate the this phishing site was registered in January this year via Namecheap. And BleepingComputer reported that at the time of them filing this report, the webpage is still live and it instructs people to key in their "12-word Backup Phrase in the correct order to pair your SafePal Wallet". (BleepingComputer )
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5/6 Once the recovery phrase is entered and the form is submitted, the page refreshes without any noticeable response and the recovery phrase is sent to the attacker. A stolen recovery phrase can give attackers control over your wallet along with the ability to access and transfer funds. (Pixabay)
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6/6 Five days after Cali publicly reported the incident, a Mozilla spokesperson responded to say that they were investigating the issue and the page for Safepal Wallet has since been removed by Mozilla. The Mozilla add-ons store now has one-star reviews posted by some users that are warning others to not download “Safepal Wallet”. (BleepingComputer )
Bitcoin
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Bitcoin advanced 6% to $20,520 at 1:22 p.m. in Singapore, the highest since Aug. 26. (REUTERS)

Bitcoin rose the most in more than a month, gaining along with Asian stocks and pushing past the psychologically important $20,000 level as a bout of dollar weakness drove demand for risk assets.

The world's largest cryptocurrency advanced 6% to $20,520 at 1:22 p.m. in Singapore, the highest since Aug. 26 and outperforming most of the other top tokens like Ether. Asian stocks were also in the green as risk appetite returned, with the Hang Seng Index up about 2.5%.

The Bloomberg Dollar Spot Index tumbled 0.7% in Asia trading after surging to the highest on record this week. Every Group-of-10 currency strengthened against the greenback, with the risk-sensitive Australian dollar and Norwegian krone leading gains.

Bitcoin has been stuck in the tightest trading range in almost two years in September, in part reflecting uncertainty about how far central banks will go in raising interest rates in the face of a slowing global economy.

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First Published Date: 09 Sep, 23:30 IST
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