- The Bull Checker Chrome extension has reportedly stolen from DeFi users.
- The extension would transfer tokens to another wallets without the owner’s consent.
As a seasoned crypto investor with over a decade of experience navigating the ever-changing landscape of digital assets, I’ve learned to always keep my guard up and trust only the most reliable tools in this space. The recent revelation about the Bull Checker Chrome extension stealing from DeFi users on Solana is a stark reminder of that very lesson.
In simpler terms, the digital asset swap platform known as Jupiter (JUP) has caused quite a stir within the cryptocurrency community due to its disclosure of a harmful web browser add-on designed to exploit users of Decentralized Finance (DeFi) on the Solana blockchain (SOL).
As per the recent findings in a report published on the platform previously known as Twitter, it appears that the Bull Checker Chrome extension has been focusing its attention on multiple users within Solana DeFi-related Reddit communities.
With the addition of the feature, users could interact with decentralized applications (dApps). Yet, following the execution of a transaction, an automatic transfer of tokens occurred into another wallet, unbeknownst to the user.
Jupiter revealed,
“With this extension, users can engage with decentralized applications (dApps) just like usual. However, there’s a chance that when a transaction is completed, their tokens could be fraudulently moved to another digital wallet without their knowledge.”
Next steps
Following the release of the report, Jupiter cautioned users against utilizing the mentioned extensions. It’s rumored that one Reddit account, Solana_OG, might have been responsible for the extensions, as they successfully persuaded users to download the Bull Checker extension.
In simpler terms, Bull Checker inserted malicious commands within legitimate Jupiter and Raydium instructions, making it seem acceptable for the transactions to be transferred to a different wallet.
For safety reasons, it’s advisable that users eliminate any additional extensions with broad, untrusted permissions.
Impact on SOL?
The controversy emerged as there’s been a rise in withdrawals from the Solana network during the past week, according to Coinshare’s report.
Over the last seven days, there’s been a significant withdrawal of approximately $39 million from the altcoin, mainly due to a decrease in trading activity for memecoins within its ecosystem.
Read Solana’s [SOL] Price Prediction 2024-25
Likewise, there’s been a significant drop in incoming transactions and a rise in outgoing ones on the Solana network. At this moment, according to DefiLlama, the network’s net flow stands at approximately -0.22 million.
A negative netflow shows decreased demand for Sol ETPs and its memecoins.
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2024-08-20 14:47