Coinbase Users Alert: Surge in Fake Wallet Extensions Threatens Crypto Security
A recent surge in fraudulent wallet extensions has put millions of cryptocurrency users at risk, particularly those using major platforms like Coinbase, MetaMask, and Trust Wallet. Security analysts have identified these malicious extensions as sophisticated mimics of legitimate wallet interfaces, posing significant threats to digital asset holders. The scam primarily targets Ethereum-based tokens and other popular cryptocurrencies, raising alarms across the crypto community. As of July 2025, the situation underscores the urgent need for heightened vigilance and improved security measures to protect users' assets from such deceptive practices.
Fake Wallet Extension Scam Puts Millions of Crypto Users at Risk
A surge of fraudulent wallet extensions has emerged, targeting users of major cryptocurrency platforms including MetaMask, Coinbase, and Trust Wallet. The scam poses significant security risks to digital asset holders, particularly those transacting in Ethereum-based tokens and other popular cryptocurrencies.
Security analysts warn that these malicious extensions mimic legitimate wallet interfaces, potentially compromising private keys and draining funds. The threat coincides with growing institutional adoption of crypto infrastructure, underscoring the need for heightened vigilance in self-custody practices.
Crypto Today: Institutional Demand Fuels Bitcoin Rally as Ethereum, XRP Gain Momentum
Bitcoin surged past $109,000, breaking a key descending trendline as institutional demand stabilizes the market. ethereum reclaimed $2,600 amid growing derivatives activity, while XRP bulls pushed the price above critical moving averages.
The crypto market's recovery reflects waning sell pressure among whales since April, with Bitcoin's Coinbase Premium Gap signaling sustained institutional interest. Glassnode reports $1.2 trillion in unrealized profits across Bitcoin holdings—a double-edged sword indicating both value creation and potential profit-taking risk.
Altcoins followed Bitcoin's lead, with Ethereum benefiting from renewed contract activity and XRP demonstrating technical strength. The market appears to have absorbed geopolitical shocks from June, with on-chain data suggesting a firming investor base.
Amundi Warns U.S. Stablecoin Regulation Could Disrupt Global Payments
European asset manager Amundi has raised concerns that the U.S. GENIUS Act, recently passed by the Senate, may destabilize the global payment system. The legislation aims to regulate dollar-pegged stablecoins, treating them as payment instruments rather than securities. This approach subjects issuers to heightened scrutiny from both state and federal regulators.
Coinbase's Chief Policy Officer Faryar Shirzad views the bill as a strategic MOVE to position the U.S. as a leader in digital asset innovation. Meanwhile, Circle CEO Jeremy Allaire notes bipartisan support, with the bill now advancing to the House of Representatives. Critics argue that overly permissive policies, particularly those allowing interest-bearing features, could siphon deposits from traditional systems and create systemic risks.
