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Binance Cautions Against Using Firefox Due to Coinbase Vulnerabilities

Binance Cautions Against Using Firefox Due to Coinbase Vulnerabilities

The Firefox vulnerability that BitcoinNews.com reported on last week has led to crypto exchange Binance’s vocal CEO, Changpeng Zhao, calling on his significant following to stop using the web browser.

And don’t use Firefox (or at least upgrade it to the latest one). Stay #SAFU. https://t.co/FoP5XLU3wd

— CZ Binance (@cz_binance) June 21, 2019

His Twitter post was pretty straightforward, and did at least tell those who insisted to use Firefox to use the latest version. He didn’t disclose if the exchange was also targeted by the malware, but his concerns seem pretty clear from the announcement. If hackers had targeted Coinbase, it would make sense they would also do the same for Binance, as the exchange has one of the largest userbases globally, and records some of the highest trading volumes for Bitcoin and other digital assets.

The first responsers to Zhao’s post actually recommend Brave browser, which is a crypto-specific one based on Mozilla (also a relation to Firefox).

The Zero Day vulnerability, on Firefox versions without the patch, would allow an attacker to crash the browser and execute code, including installing a backdoor via a trojan horse. It is estimated that is has been around for at least two weeks before discovered, although it is also noteworthy that no Coinbase users have been reported as victims, just their own employees.

This probably was because none of the code was in fact created by a malicious hacker, although those with bad intentions would definitely want to exploit the vulnerability.

Coinbase Chief Security Officer Philip Martin has confirmed that the exchange was not the sole target, and were pleased to report absolutely no financial losses as a result of this vulnerability.

Although Firefox issued the patch on version 67.0.3, there has been one more new version released since, 67.0.4. Users are recommended to always update to the latest stable version via authorized sources.

 

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Firefox JavaScript Vulnerability Warning to Crypto Users

Firefox has assigned a critical or top-level threat to a vulnerability discovered by the Coinbase security team and Google security researcher Samuel D Gross. The mixing attack has been used in the past to attack cryptocurrency users.

A zero-day (also known as 0-day) vulnerability is a computer-software vulnerability that is unknown to, or unaddressed by, those who should be interested in mitigating the vulnerability (including the vendor of the target software). Until the vulnerability is mitigated, hackers can exploit it to adversely affect computer programs, data, additional computers or a network.

Registered by experts under the code number CVE-2019–11707 a similar problem occurred in the Mozilla Firefox browser back in 2016. A publication on the Firefox website stated:

“A type confusion vulnerability can occur when manipulating JavaScript objects due to issues in Array.pop. This can allow for an exploitable crash. We are aware of targeted attacks in the wild abusing this flaw.”

As a result of the critical threat, all Firefox users have been advised to update to the latest updated version of Mozilla Firefox 67.0.3 in which the problem has been fixed. In such situations, the vulnerability is generally hidden from the public and fixed immediately before released publicly, due to its potential harm.

In a move to help improve security in the crypto-sphere, Firefox recently announced that all future versions of its web browser would automatically block crypto-jacking malware. The aim is to target the negative impacts of unchecked online tracking. Future web browsers will protect users by default from this, and offer users more advanced controls over what information of theirs is shared with third parties.

 

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Future Firefox Browsers Will Block Cryptojacking Malware

In a move to help improve security in the crypto-sphere, Firefox has announced that all future versions of its web browser will automatically block crypto-jacking malware.

Cryptomining scripts that mine cryptocurrencies unknown to the owner of the device will be prevented from autorunning. While it may be a relatively small number of people that experience this themselves, a growing number of incidents have been reported this year. Firefox is providing a secure solution against this, which will help rid the cryptocurrency industry of the arguably undeserved stigma it has received due to negative media reports of incidents such as crypto-jacking.

The decision was made as part of Firefox’s anti-tracking initiative that goes live in the following few months. The aim is to target the negative impacts of unchecked online tracking. Future web browsers will protect users by default from this, and offer users more advanced controls over what information of theirs is shared with third parties.

In addition to blocking crypto-jacking malware, the initiative plans to prevent noticeable effects such as what it describes as ”eerily-specific targeted advertising”, as well as those that users are unable to spot such as unchecked data collection that can lead to major security breaches. Firefox cited a study that indicates a total of 55.4% of time spent loading a web page is actually spent sending information to third parties.

Opera also offers this service

The popular web browser Opera added a similar anti-crypto-jacking function to its desktop adblocker update in December last year, adding that in January it plans to include this feature in its mobile application also.

Opera has become an increasingly popular web browser of choice as earlier this month it announced plans to integrate a cryptocurrency wallet into its desktop web browser supporting a wide variety of tokens. Charles Hamel, Product Lead of Opera describes the integration as a key step in “making cryptocurrencies and Web 3.0. mainstream.”

 

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