Understanding EtherHiding: The New Threat Vector
Security experts at 0xScope and CertiK have observed a rising trend among cybercriminals utilizing BNB Smart Chain contracts. Despite its name, EtherHiding, a technique for concealing malicious code within blockchain smart contracts, is primarily associated with Binance’s BNB Smart Chain rather than Ethereum. This strategy is favored by hackers due to its cost-effectiveness and perceived lower security.
BNB Smart Chain’s Appeal to Cybercriminals
Execution of EtherHiding Attacks
Factors Influencing the Choice of BNB Smart Chain
Security researchers at Web3 analytics firm 0xScope speculate that the preference for BNB Smart Chain could be attributed to heightened security scrutiny on Ethereum. Injecting malicious code using Ethereum carries higher risks of detection due to systems like Infura’s IP address tracking for MetaMask transactions. By utilizing BNB Smart Chain, hackers can operate with reduced scrutiny and continue their malicious activities.
Complexity of EtherHiding Attacks
The sophistication of EtherHiding attacks is evident in the constant updates made across 18 identified hacker domains. Hackers strategically link key addresses to entities like NFT marketplace OpenSea users and Copper custody services. This intricate web of connections, coupled with daily payload updates, makes EtherHiding incredibly challenging to detect and halt, making it a potent threat in the realm of cybersecurity.
BSCN is aiming to become the leading media coverage platform around the Binance Smart Chain Ecosystem. With a strong focus towards Content Quality, Decentralized platforms, Hot topics in the market, Informative and education sources and guidance in how to be more aware around unreliable crypto projects.