Crypto & Blockchain Daily Brief Wednesday, August 21, 2024

A malicious Chrome browser extension called "Solana Price Ticker" has been discovered targeting users of the Solana blockchain. The extension, named "Solana Price Ticker - Sol Flare", posed as a legitimate tool for tracking the price of Solana's SOL token. However, it was found to contain malicious code designed to steal sensitive information such as seed phrases, passwords, and private keys from users accessing their Solana wallets through the extension. The extension was available on the Chrome Web Store and had been downloaded by a significant number of users before being identified as malicious. Researchers who analyzed the code of the extension warned users to remove it immediately and advised against using it in the future. The discovery of this malicious extension highlights the importance of being cautious when installing browser extensions, especially those related to cryptocurrency wallets or services. Users are encouraged to only download extensions from trusted sources and to regularly review the permissions granted to extensions to ensure they are not accessing sensitive data. In response to the incident, the Solana Foundation issued a warning to users to be vigilant and take necessary precautions to protect their assets. They also emphasized the importance of using official wallet applications and avoiding third-party tools that could compromise the security of their funds. Overall, the incident serves as a reminder of the potential risks associated with using third-party browser extensions and the importance of maintaining strong security practices when engaging with cryptocurrency services.

Ledn, a digital asset platform, has partnered with Sygnum, a Swiss-based digital asset bank, to launch a $50 million Bitcoin-backed loan program. This collaboration marks the first syndicated loan facility involving Bitcoin as collateral. The loan facility will allow institutional clients to access capital using Bitcoin as collateral, providing them with the opportunity to unlock liquidity without needing to sell their Bitcoin holdings. This innovative approach allows clients to leverage their Bitcoin assets without losing exposure to the potential upside of the cryptocurrency. Through this partnership, Ledn and Sygnum aim to meet the growing demand for liquidity solutions in the digital asset space. By offering Bitcoin-backed loans, they are providing clients with a way to access funds while maintaining ownership of their Bitcoin, enabling them to benefit from both the value of their digital assets and the liquidity they require. Sygnum's expertise in digital asset banking and Ledn's experience in providing digital asset financial services make them well-suited to collaborate on this groundbreaking loan facility. This partnership is an important step in the evolution of the digital asset industry, showcasing the potential for innovative financial solutions that leverage the unique properties of cryptocurrencies like Bitcoin. Overall, the $50 million Bitcoin-backed loan program launched by Ledn and Sygnum represents a significant development in the digital asset space, offering institutional clients a new way to access capital while holding onto their Bitcoin investments.